Q3 2016 EPS Estimates for Green Plains Renewable Energy Inc. Reduced by Jefferies Group (GPRE)
Green Plains Renewable Energy Inc. (NASDAQ:GPRE) – Investment analysts at Jefferies Group lowered their Q3 2016 earnings per share estimates for shares of Green Plains Renewable Energy in a note issued to investors on Tuesday. Jefferies Group analyst L. Alexander now forecasts that the brokerage will earn $0.34 per share for the quarter, down from their previous forecast of $0.39. Jefferies Group has a “Buy” rating and a $32.00 price objective on the stock. Jefferies Group also issued estimates for Green Plains Renewable Energy’s FY2017 earnings at $1.80 EPS, FY2018 earnings at $2.65 EPS, FY2019 earnings at $3.15 EPS and FY2020 earnings at $3.90 EPS.
A number of other research analysts also recently weighed in on the stock. Roth Capital reaffirmed a “buy” rating and issued a $33.00 target price (up previously from $25.00) on shares of Green Plains Renewable Energy in a research report on Wednesday. Stephens upgraded shares of Green Plains Renewable Energy from an “equal weight” rating to an “overweight” rating and set a $32.00 price target for the company in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of Green Plains Renewable Energy from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.25.
Shares of Green Plains Renewable Energy (NASDAQ:GPRE) opened at 27.43 on Thursday. The company’s market cap is $1.05 billion. The company has a 50-day moving average of $25.15 and a 200-day moving average of $20.43. Green Plains Renewable Energy has a 1-year low of $12.39 and a 1-year high of $28.37.
Green Plains Renewable Energy (NASDAQ:GPRE) last posted its earnings results on Monday, August 1st. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.29. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $803.62 million. Green Plains Renewable Energy had a negative net margin of 0.43% and a negative return on equity of 1.41%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share.
Hedge funds have recently bought and sold shares of the company. Deprince Race & Zollo Inc. boosted its stake in Green Plains Renewable Energy by 7.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,838,154 shares of the company’s stock worth $36,248,000 after buying an additional 127,240 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Green Plains Renewable Energy during the first quarter worth about $1,197,000. Nomura Holdings Inc. boosted its stake in Green Plains Renewable Energy by 42.7% in the second quarter. Nomura Holdings Inc. now owns 821,720 shares of the company’s stock worth $15,962,000 after buying an additional 245,720 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Green Plains Renewable Energy by 26.6% in the first quarter. JPMorgan Chase & Co. now owns 851,869 shares of the company’s stock worth $13,597,000 after buying an additional 178,793 shares in the last quarter. Finally, Mount Lucas Management LP boosted its stake in Green Plains Renewable Energy by 11.3% in the first quarter. Mount Lucas Management LP now owns 43,292 shares of the company’s stock worth $691,000 after buying an additional 4,378 shares in the last quarter. Institutional investors own 98.23% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Wednesday, August 24th. Green Plains Renewable Energy’s dividend payout ratio is presently -137.14%.
About Green Plains Renewable Energy
Green Plains Inc (Green Plains) is a vertically integrated producer, marketer and distributor of ethanol. The Company operates through four segments: Ethanol Production, Agribusiness, Marketing and Distribution, and Partnership. The Company’s ethanol production segment is engaged in the production of ethanol and related distillers grain.
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