Pacific Ethanol Inc (PEIX) Expected to Post Earnings of -$0.07 Per Share

Analysts expect Pacific Ethanol Inc (NASDAQ:PEIX) to post earnings per share of ($0.07) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Pacific Ethanol’s earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.09). Pacific Ethanol reported earnings per share of ($0.19) during the same quarter last year, which would indicate a positive year over year growth rate of 63.2%. The company is expected to announce its next earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Pacific Ethanol will report full-year earnings of $0.03 per share for the current financial year, with EPS estimates ranging from ($0.10) to $0.15. For the next fiscal year, analysts anticipate that the company will report earnings of $0.08 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Pacific Ethanol.

Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Tuesday, March 12th. The oil and gas company reported ($0.74) earnings per share 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 during the quarter, compared to the consensus estimate of $386.56 million.

PEIX has been the topic of a number of research reports. ValuEngine lowered shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. Zacks Investment Research lowered shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Finally, Roth Capital lowered shares of Pacific Ethanol from a “buy” rating to a “neutral” rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Pacific Ethanol currently has an average rating of “Hold” and an average price target of $5.33.

Pacific Ethanol stock traded down $0.03 during mid-day trading on Wednesday, reaching $1.05. The company had a trading volume of 2,205 shares, compared to its average volume of 402,024. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.73 and a quick ratio of 0.48. Pacific Ethanol has a 52 week low of $0.76 and a 52 week high of $3.95. The company has a market cap of $52.80 million, a PE ratio of -0.74 and a beta of 2.32.

Several hedge funds have recently made changes to their positions in PEIX. California Public Employees Retirement System increased its holdings in Pacific Ethanol by 32.2% during the fourth 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 last quarter. United Services Automobile Association increased its holdings in Pacific Ethanol by 7.4% during the fourth 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 last quarter. Norges Bank acquired a new position in Pacific Ethanol during the fourth quarter worth $191,000. Geode Capital Management LLC increased its holdings in Pacific Ethanol by 41.9% during the fourth 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 last quarter. Finally, Acadian Asset Management LLC increased its holdings in Pacific Ethanol by 109.7% during the fourth 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 last quarter. 45.81% of the stock is currently owned by institutional investors and hedge funds.

About Pacific Ethanol

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.

Recommended Story: What does relative strength index mean?

Get a free copy of the Zacks research report on Pacific Ethanol (PEIX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pacific Ethanol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Ethanol and related companies with MarketBeat.com's FREE daily email newsletter.