Zacks: Brokerages Expect Pacific Ethanol Inc (PEIX) to Post -$0.24 EPS

Equities research analysts expect Pacific Ethanol Inc (NASDAQ:PEIX) to report earnings of ($0.24) per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Pacific Ethanol’s earnings, with estimates ranging from ($0.33) to ($0.19). Pacific Ethanol posted earnings per share of ($0.32) during the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Pacific Ethanol will report full-year earnings of ($0.92) per share for the current financial year, with EPS estimates ranging from ($1.01) to ($0.86). For the next year, analysts expect that the business will report earnings of ($0.04) per share, with EPS estimates ranging from ($0.56) to $0.53. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pacific Ethanol.

Pacific Ethanol (NASDAQ:PEIX) last issued its earnings results on Wednesday, October 31st. The oil and gas company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.05). The company had revenue of $370.41 million during the quarter, compared to analysts’ expectations of $404.30 million. Pacific Ethanol had a negative net margin of 2.66% and a negative return on equity of 11.39%.

Several brokerages have issued reports on PEIX. ValuEngine upgraded Pacific Ethanol from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research cut Pacific Ethanol from a “hold” rating to a “sell” rating in a report on Saturday, November 3rd. B. Riley set a $7.00 price target on Pacific Ethanol and gave the stock a “buy” rating in a report on Sunday, August 12th. Finally, HC Wainwright set a $14.00 price target on Pacific Ethanol and gave the stock a “buy” rating in a report on Monday, September 24th.

NASDAQ:PEIX traded down $0.03 during trading hours on Friday, hitting $1.47. The company had a trading volume of 65,156 shares, compared to its average volume of 609,473. The company has a quick ratio of 1.39, a current ratio of 1.94 and a debt-to-equity ratio of 0.61. The stock has a market cap of $68.57 million, a P/E ratio of -1.73 and a beta of 1.89. Pacific Ethanol has a 1 year low of $1.38 and a 1 year high of $4.90.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Pacific Ethanol by 160.1% during the third quarter. Renaissance Technologies LLC now owns 475,000 shares of the oil and gas company’s stock valued at $903,000 after buying an additional 292,400 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Pacific Ethanol by 36.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 927,129 shares of the oil and gas company’s stock worth $1,762,000 after purchasing an additional 249,300 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Pacific Ethanol by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,392,150 shares of the oil and gas company’s stock worth $6,445,000 after purchasing an additional 47,444 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Pacific Ethanol during the 3rd quarter worth approximately $1,204,000. Finally, United Services Automobile Association raised its position in shares of Pacific Ethanol by 65.6% during the 2nd quarter. United Services Automobile Association now owns 179,761 shares of the oil and gas company’s stock worth $467,000 after purchasing an additional 71,200 shares during the period. Institutional investors and hedge funds own 65.31% of the company’s stock.

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.

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