$595.77 Million in Sales Expected for Renewable Energy Group Inc (NASDAQ:REGI) This Quarter

Wall Street analysts expect that Renewable Energy Group Inc (NASDAQ:REGI) will report sales of $595.77 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Renewable Energy Group’s earnings, with the lowest sales estimate coming in at $574.10 million and the highest estimate coming in at $621.00 million. Renewable Energy Group reported sales of $597.75 million during the same quarter last year, which indicates a negative year over year growth rate of 0.3%. The firm is scheduled to issue its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Renewable Energy Group will report full-year sales of $2.20 billion for the current fiscal year, with estimates ranging from $2.16 billion to $2.26 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Renewable Energy Group.

Renewable Energy Group (NASDAQ:REGI) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.92). The business had revenue of $560.64 million for the quarter, compared to the consensus estimate of $572.93 million. Renewable Energy Group had a negative net margin of 2.88% and a negative return on equity of 5.90%.

A number of analysts have recently commented on REGI shares. ValuEngine upgraded Renewable Energy Group from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Zacks Investment Research lowered Renewable Energy Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 19th. TheStreet lowered Renewable Energy Group from a “b” rating to a “c+” rating in a report on Friday, May 3rd. BWS Financial started coverage on Renewable Energy Group in a report on Wednesday, April 24th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Roth Capital upgraded Renewable Energy Group from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Monday, June 24th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Renewable Energy Group presently has an average rating of “Hold” and a consensus price target of $29.75.

In other Renewable Energy Group news, insider Cynthia J. Warner purchased 4,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was purchased at an average cost of $14.16 per share, for a total transaction of $56,640.00. Following the acquisition, the insider now owns 62,578 shares in the company, valued at approximately $886,104.48. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gary Haer sold 19,675 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $16.28, for a total value of $320,309.00. Following the sale, the vice president now owns 29,185 shares of the company’s stock, valued at $475,131.80. The disclosure for this sale can be found here. Corporate insiders own 3.01% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of Renewable Energy Group by 1.3% during the 2nd quarter. BlackRock Inc. now owns 5,970,300 shares of the oil and gas company’s stock worth $94,689,000 after buying an additional 74,926 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Renewable Energy Group by 11.3% in the second quarter. Vanguard Group Inc. now owns 4,670,705 shares of the oil and gas company’s stock valued at $74,078,000 after acquiring an additional 473,992 shares during the period. JPMorgan Chase & Co. increased its position in shares of Renewable Energy Group by 15.0% in the second quarter. JPMorgan Chase & Co. now owns 1,625,943 shares of the oil and gas company’s stock valued at $26,242,000 after acquiring an additional 212,277 shares during the period. Invesco Ltd. increased its position in shares of Renewable Energy Group by 102.9% in the second quarter. Invesco Ltd. now owns 1,616,509 shares of the oil and gas company’s stock valued at $25,637,000 after acquiring an additional 819,667 shares during the period. Finally, DNB Asset Management AS increased its position in shares of Renewable Energy Group by 79.9% in the second quarter. DNB Asset Management AS now owns 1,455,535 shares of the oil and gas company’s stock valued at $23,085,000 after acquiring an additional 646,621 shares during the period.

Shares of Renewable Energy Group stock traded down $0.40 during trading on Thursday, reaching $10.95. The stock had a trading volume of 802,538 shares, compared to its average volume of 644,547. The company has a market capitalization of $415.70 million, a price-to-earnings ratio of 1.62 and a beta of 1.20. The stock has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $19.53. Renewable Energy Group has a 52 week low of $9.90 and a 52 week high of $32.52. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.05.

About Renewable Energy Group

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

Further Reading: Futures Contract

Get a free copy of the Zacks research report on Renewable Energy Group (REGI)

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

Earnings History and Estimates for Renewable Energy Group (NASDAQ:REGI)

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