$31.57 Million in Sales Expected for Vertex Energy, Inc (VTNR) This Quarter
Brokerages expect Vertex Energy, Inc (NASDAQ:VTNR) to announce $31.57 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Vertex Energy’s earnings, with estimates ranging from $28.90 million to $33.00 million. Vertex Energy posted sales of $28.46 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.9%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, November 7th.
According to Zacks, analysts expect that Vertex Energy will report full year sales of $31.57 million for the current financial year, with estimates ranging from $131.70 million to $136.70 million. For the next financial year, analysts expect that the firm will post sales of $140.23 million per share, with estimates ranging from $130.80 million to $152.90 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Vertex Energy.
Vertex Energy (NASDAQ:VTNR) last issued its earnings results on Tuesday, August 8th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). The business had revenue of $36.91 million for the quarter, compared to analyst estimates of $32.00 million. Vertex Energy had a negative return on equity of 23.10% and a negative net margin of 6.49%.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Vertex Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. Roth Capital set a $1.00 price objective on shares of Vertex Energy and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research raised shares of Vertex Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th.
Shares of Vertex Energy (NASDAQ VTNR) opened at 0.83 on Monday. The firm’s 50 day moving average is $0.76 and its 200-day moving average is $0.95. The firm’s market capitalization is $27.10 million. Vertex Energy has a one year low of $0.65 and a one year high of $1.80.
A hedge fund recently raised its stake in Vertex Energy stock. Benchmark Capital Advisors raised its stake in shares of Vertex Energy, Inc (NASDAQ:VTNR) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 389,669 shares of the industrial products company’s stock after purchasing an additional 3,000 shares during the period. Benchmark Capital Advisors owned 1.21% of Vertex Energy worth $417,000 at the end of the most recent reporting period. 16.80% of the stock is currently owned by hedge funds and other institutional investors.
About Vertex Energy
Vertex Energy, Inc is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. The Company focuses on recycling used motor oil and other petroleum by-products. The Company’s segments include the Black Oil, Refining and Marketing, and Recovery divisions.
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