$0.01 Earnings Per Share Expected for Pacific Ethanol, Inc. (PEIX) This Quarter
Wall Street analysts forecast that Pacific Ethanol, Inc. (NASDAQ:PEIX) will post earnings of $0.01 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Pacific Ethanol’s earnings. The lowest EPS estimate is ($0.10) and the highest is $0.09. Pacific Ethanol posted earnings of $0.30 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 96.7%. The business is expected to issue its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Pacific Ethanol will report full-year earnings of ($0.55) per share for the current year, with EPS estimates ranging from ($0.63) to ($0.51). For the next financial year, analysts expect that the business will report earnings of $0.60 per share, with EPS estimates ranging from $0.35 to $0.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. The company had revenue of $445.40 million for the quarter, compared to analyst estimates of $434.57 million. Pacific Ethanol had a negative return on equity of 2.13% and a negative net margin of 0.51%. Pacific Ethanol’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share.
PEIX has been the topic of a number of recent research reports. ValuEngine lowered Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Pacific Ethanol in a research note on Thursday, November 9th. Zacks Investment Research downgraded Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 28th. Finally, Cowen and Company set a $13.00 price target on Pacific Ethanol and gave the company a “buy” rating in a research note on Saturday, July 29th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $13.00.
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Shares of Pacific Ethanol (PEIX) traded down $0.25 during trading on Tuesday, reaching $4.35. The company had a trading volume of 152,926 shares, compared to its average volume of 602,257. Pacific Ethanol has a 1-year low of $4.15 and a 1-year high of $10.95. The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.56.
Several hedge funds and other institutional investors have recently modified their holdings of PEIX. Bank of New York Mellon Corp boosted its stake in shares of Pacific Ethanol by 5.7% during the 1st quarter. Bank of New York Mellon Corp now owns 177,579 shares of the oil and gas company’s stock worth $1,216,000 after acquiring an additional 9,575 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Pacific Ethanol by 36.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 219,046 shares of the oil and gas company’s stock worth $1,500,000 after acquiring an additional 58,851 shares during the period. American International Group Inc. boosted its stake in shares of Pacific Ethanol by 7.1% during the 1st quarter. American International Group Inc. now owns 17,659 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 1,163 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Pacific Ethanol by 4.7% during the 1st quarter. OppenheimerFunds Inc. now owns 16,212 shares of the oil and gas company’s stock worth $111,000 after acquiring an additional 728 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Pacific Ethanol by 182.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 201,450 shares of the oil and gas company’s stock valued at $1,380,000 after purchasing an additional 130,036 shares during the period. Institutional investors own 79.68% of the company’s stock.
About Pacific Ethanol
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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