Green Plains, Inc. (GPRE) Stock Price Up 6.1%
Green Plains, Inc. (NASDAQ:GPRE)’s share price rose 6.1% during mid-day trading on Wednesday . The stock traded as high as $20.02 and last traded at $19.90. Approximately 2,705,083 shares were traded during trading, an increase of 251% from the average daily volume of 771,553 shares. The stock had previously closed at $18.75.
GPRE has been the subject of several analyst reports. Jefferies Group LLC restated a “buy” rating and set a $25.00 target price (down from $28.00) on shares of Green Plains in a research report on Wednesday, August 2nd. BidaskClub lowered Green Plains from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies restated a “hold” rating and set a $19.00 target price on shares of Green Plains in a research report on Tuesday, September 5th. Zacks Investment Research lowered Green Plains from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 4th. Finally, Craig Hallum initiated coverage on Green Plains in a research report on Thursday. They set a “buy” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.50.
The firm has a market capitalization of $830.72 million, a price-to-earnings ratio of 117.11 and a beta of 1.44. The stock’s 50-day moving average is $18.43 and its 200 day moving average is $21.44.
Green Plains (NASDAQ:GPRE) last issued its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.29). Green Plains had a return on equity of 0.68% and a net margin of 0.19%. The company had revenue of $886.30 million for the quarter, compared to the consensus estimate of $986.88 million. During the same quarter last year, the business earned $0.21 earnings per share. Green Plains’s revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Green Plains, Inc. will post ($0.21) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.40%. Green Plains’s dividend payout ratio (DPR) is 282.35%.
In related news, Director Alain Treuer sold 25,900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $19.51, for a total transaction of $505,309.00. Following the completion of the sale, the director now owns 336,008 shares of the company’s stock, valued at $6,555,516.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 28,112 shares of company stock valued at $547,387 in the last ninety days. 6.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in Green Plains by 7.2% during the first quarter. Envestnet Asset Management Inc. now owns 4,022 shares of the specialty chemicals company’s stock worth $100,000 after purchasing an additional 270 shares during the period. State of Alaska Department of Revenue grew its stake in Green Plains by 85.9% during the second quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock worth $149,000 after purchasing an additional 3,369 shares during the period. Public Employees Retirement System of Ohio grew its stake in Green Plains by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 7,612 shares of the specialty chemicals company’s stock worth $156,000 after purchasing an additional 104 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in Green Plains by 2.0% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,150 shares of the specialty chemicals company’s stock worth $202,000 after purchasing an additional 160 shares during the period. Finally, UBS Asset Management Americas Inc. acquired a new stake in Green Plains during the first quarter worth approximately $204,000.
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Green Plains Company Profile
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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