$364.13 Million in Sales Expected for Pacific Ethanol Inc (NASDAQ:PEIX) This Quarter

Analysts expect Pacific Ethanol Inc (NASDAQ:PEIX) to announce $364.13 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Pacific Ethanol’s earnings. The highest sales estimate is $369.00 million and the lowest is $359.26 million. Pacific Ethanol posted sales of $370.41 million during the same quarter last year, which suggests a negative year over year growth rate of 1.7%. The company is scheduled to issue its next earnings results on Wednesday, October 30th.

According to Zacks, analysts expect that Pacific Ethanol will report full-year sales of $1.44 billion for the current year, with estimates ranging from $1.42 billion to $1.45 billion. For the next year, analysts expect that the business will post sales of $1.52 billion, with estimates ranging from $1.50 billion to $1.53 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Pacific Ethanol.

Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. The company had revenue of $346.30 million for the quarter, compared to analyst estimates of $377.12 million. Pacific Ethanol had a negative return on equity of 18.38% and a negative net margin of 4.27%.

Several research firms recently weighed in on PEIX. Zacks Investment Research raised Pacific Ethanol from a “sell” rating to a “hold” rating in a report on Thursday, July 4th. HC Wainwright decreased their price target on Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, ValuEngine lowered Pacific Ethanol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $4.00.

PEIX stock traded down $0.03 during mid-day trading on Friday, reaching $0.60. The company had a trading volume of 725 shares, compared to its average volume of 397,593. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.48. The stock’s 50 day moving average is $0.71. The company has a market capitalization of $31.52 million, a P/E ratio of -0.43 and a beta of 2.05. Pacific Ethanol has a 52 week low of $0.51 and a 52 week high of $3.24.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System boosted 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 boosted 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. Geode Capital Management LLC boosted 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. Norges Bank bought a new position in Pacific Ethanol in the 4th quarter worth $191,000. Finally, Acadian Asset Management LLC boosted its holdings in Pacific Ethanol by 22.6% in the 1st quarter. Acadian Asset Management LLC now owns 430,145 shares of the oil and gas company’s stock worth $422,000 after buying an additional 79,403 shares during the period. 38.79% of the stock is owned by institutional investors and hedge funds.

Pacific Ethanol Company Profile

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, 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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