Analysts predict that Pacific Ethanol Inc (NASDAQ:PEIX) will post $387.87 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Pacific Ethanol’s earnings. The highest sales estimate is $392.54 million and the lowest is $383.20 million. Pacific Ethanol posted sales of $400.03 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3%. The company is scheduled to issue its next earnings results on Tuesday, May 14th.
On average, analysts expect that Pacific Ethanol will report full-year sales of $1.59 billion for the current year, with estimates ranging from $1.56 billion to $1.61 billion. For the next financial year, analysts expect that the company will post sales of $1.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings data on Tuesday, March 12th. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.41). Pacific Ethanol had a negative net margin of 4.00% and a negative return on equity of 17.24%. The company had revenue of $334.42 million for the quarter, compared to the consensus estimate of $386.56 million.
A number of brokerages have weighed in on PEIX. Zacks Investment Research lowered Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 19th. Roth Capital lowered Pacific Ethanol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th. Finally, ValuEngine lowered Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.33.
Several institutional investors have recently made changes to their positions in PEIX. California Public Employees Retirement System lifted its holdings in Pacific Ethanol by 32.2% in the 4th quarter. California Public Employees Retirement System now owns 189,775 shares of the oil and gas company’s stock worth $163,000 after buying an additional 46,240 shares during the period. United Services Automobile Association lifted its holdings in Pacific Ethanol by 7.4% in the 4th quarter. United Services Automobile Association now owns 197,761 shares of the oil and gas company’s stock worth $170,000 after buying an additional 13,700 shares during the period. Norges Bank purchased a new stake in Pacific Ethanol in the 4th quarter worth approximately $191,000. Geode Capital Management LLC lifted its holdings in Pacific Ethanol by 41.9% in the 4th quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock worth $283,000 after buying an additional 97,240 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Pacific Ethanol by 109.7% in the 4th quarter. Acadian Asset Management LLC now owns 350,742 shares of the oil and gas company’s stock worth $302,000 after buying an additional 183,454 shares during the period. Hedge funds and other institutional investors own 45.81% of the company’s stock.
Shares of NASDAQ:PEIX traded down $0.09 during midday trading on Friday, reaching $1.08. 2,905 shares of the company traded hands, compared to its average volume of 448,931. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.48 and a current ratio of 0.73. Pacific Ethanol has a 12 month low of $0.76 and a 12 month high of $3.95. The firm has a market cap of $57.20 million, a price-to-earnings ratio of -0.77 and a beta of 2.32.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc produces and markets low-carbon renewable fuels in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; specialty alcohols; and co-products, such as wet distillers grains, dry distillers grains with solubles, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.
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