Zacks: Analysts Anticipate Pacific Ethanol Inc (PEIX) to Post -$0.10 Earnings Per Share

Equities research analysts predict that Pacific Ethanol Inc (NASDAQ:PEIX) will report ($0.10) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Pacific Ethanol’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.19). Pacific Ethanol posted earnings of ($0.31) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 67.7%. The company is expected to announce its next earnings report on Wednesday, August 14th.

On average, analysts expect that Pacific Ethanol will report full-year earnings of ($0.36) per share for the current year, with EPS estimates ranging from ($0.86) to $0.15. For the next financial year, analysts forecast that the company will report earnings of ($1.33) per share. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Pacific Ethanol.

Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). Pacific Ethanol had a negative return on equity of 19.59% and a negative net margin of 4.46%. The business had revenue of $355.80 million for the quarter, compared to analysts’ expectations of $387.87 million.

PEIX has been the topic of several recent research reports. ValuEngine raised shares of Pacific Ethanol from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Pacific Ethanol in a report on Friday, May 3rd. Roth Capital downgraded shares of Pacific Ethanol from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Finally, Zacks Investment Research downgraded shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $4.00.

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. purchased a new stake in shares of Pacific Ethanol in the first quarter worth about $32,000. Northern Trust Corp grew its position in Pacific Ethanol by 11.2% during the first quarter. Northern Trust Corp now owns 127,638 shares of the oil and gas company’s stock valued at $125,000 after acquiring an additional 12,867 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Pacific Ethanol by 32.2% in 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 purchasing an additional 46,240 shares during the last quarter. United Services Automobile Association grew its holdings in shares of Pacific Ethanol by 7.4% in the fourth quarter. United Services Automobile Association now owns 197,761 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 13,700 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Pacific Ethanol in the fourth quarter worth approximately $191,000. 38.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pacific Ethanol stock traded down $0.04 during trading hours on Friday, reaching $1.00. 6,674 shares of the company’s stock were exchanged, compared to its average volume of 376,215. Pacific Ethanol has a 52-week low of $0.76 and a 52-week high of $3.55. The firm has a market cap of $51.87 million, a PE ratio of -0.72 and a beta of 2.36. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

About Pacific Ethanol

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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