Zacks: Brokerages Anticipate Renewable Energy Group Inc (NASDAQ:REGI) Will Post Quarterly Sales of $595.77 Million

Wall Street brokerages expect that Renewable Energy Group Inc (NASDAQ:REGI) will post sales of $595.77 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Renewable Energy Group’s earnings, with the highest sales estimate coming in at $621.00 million and the lowest estimate coming in at $574.10 million. Renewable Energy Group posted sales of $597.75 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.3%. The business is scheduled to report its next quarterly 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 year, with estimates ranging from $2.16 billion to $2.26 billion. For the next financial year, analysts expect that the business will report sales of $2.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Renewable Energy Group.

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

Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Renewable Energy Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 19th. BWS Financial began coverage on shares of Renewable Energy Group in a research note on Wednesday, April 24th. They issued a “buy” rating and a $31.00 target price on the stock. ValuEngine upgraded shares of Renewable Energy Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. BidaskClub downgraded shares of Renewable Energy Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 9th. Finally, Roth Capital upgraded shares of Renewable Energy Group from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.75.

In related news, insider Cynthia J. Warner acquired 4,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $14.16 per share, for a total transaction of $56,640.00. Following the completion of the transaction, the insider now directly owns 62,578 shares in the company, valued at $886,104.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary Haer sold 19,675 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $16.28, for a total transaction of $320,309.00. Following the transaction, the vice president now owns 29,185 shares in the company, valued at approximately $475,131.80. The disclosure for this sale can be found here. Corporate insiders own 3.01% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can lifted its position in Renewable Energy Group by 57.4% during the first quarter. Great West Life Assurance Co. Can now owns 81,785 shares of the oil and gas company’s stock valued at $1,794,000 after purchasing an additional 29,820 shares during the period. Bank of America Corp DE lifted its position in Renewable Energy Group by 50.8% during the fourth quarter. Bank of America Corp DE now owns 65,024 shares of the oil and gas company’s stock valued at $1,671,000 after purchasing an additional 21,908 shares during the period. Strs Ohio lifted its position in Renewable Energy Group by 8.2% during the first quarter. Strs Ohio now owns 33,000 shares of the oil and gas company’s stock valued at $724,000 after purchasing an additional 2,500 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Renewable Energy Group by 5.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,234,135 shares of the oil and gas company’s stock valued at $19,574,000 after purchasing an additional 66,769 shares during the period. Finally, Deutsche Bank AG lifted its position in Renewable Energy Group by 111.1% during the fourth quarter. Deutsche Bank AG now owns 534,073 shares of the oil and gas company’s stock valued at $13,724,000 after purchasing an additional 281,132 shares during the period.

NASDAQ:REGI traded down $0.40 during mid-day trading on Thursday, hitting $10.95. 802,538 shares of the company’s stock were exchanged, compared to its average volume of 644,547. Renewable Energy Group has a one year low of $9.90 and a one year high of $32.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.14 and a quick ratio of 0.58. The business has a fifty day moving average price of $14.45 and a 200 day moving average price of $19.53. The company has a market cap of $415.70 million, a PE ratio of 1.62 and a beta of 1.20.

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.

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

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