Pacific Ethanol, Inc. (NASDAQ:PEIX) – Stock analysts at B. Riley upped their Q2 2018 earnings estimates for shares of Pacific Ethanol in a note issued to investors on Monday, May 14th. B. Riley analyst C. Driscoll now anticipates that the oil and gas company will post earnings of ($0.13) per share for the quarter, up from their prior forecast of ($0.18). B. Riley currently has a “Buy” rating and a $7.00 price target on the stock. B. Riley also issued estimates for Pacific Ethanol’s FY2018 earnings at ($0.18) EPS, Q1 2019 earnings at ($0.01) EPS and Q2 2019 earnings at $0.02 EPS.
A number of other analysts also recently commented on the stock. HC Wainwright set a $14.00 price target on shares of Pacific Ethanol and gave the stock a “buy” rating in a research report on Friday, March 2nd. ValuEngine upgraded shares of Pacific Ethanol from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 13th. Finally, Zacks Investment Research upgraded shares of Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Pacific Ethanol presently has an average rating of “Hold” and a consensus price target of $9.75.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results on Friday, May 11th. The oil and gas company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Pacific Ethanol had a negative net margin of 1.83% and a negative return on equity of 7.78%. The company had revenue of $400.03 million for the quarter, compared to the consensus estimate of $411.18 million.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Pacific Ethanol by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 334,923 shares of the oil and gas company’s stock worth $1,523,000 after purchasing an additional 19,476 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Pacific Ethanol by 20.4% in the fourth quarter. Wells Fargo & Company MN now owns 123,454 shares of the oil and gas company’s stock worth $561,000 after acquiring an additional 20,941 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Pacific Ethanol by 24.0% in the first quarter. California Public Employees Retirement System now owns 114,573 shares of the oil and gas company’s stock worth $344,000 after acquiring an additional 22,179 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Pacific Ethanol by 28.8% in the fourth quarter. Macquarie Group Ltd. now owns 99,725 shares of the oil and gas company’s stock worth $454,000 after acquiring an additional 22,300 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Pacific Ethanol in the fourth quarter worth approximately $126,000. Institutional investors and hedge funds own 76.28% of the company’s stock.
In other Pacific Ethanol news, Director Larry D. Layne bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average cost of $3.70 per share, for a total transaction of $37,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil M. Koehler bought 30,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average price of $3.20 per share, for a total transaction of $96,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 52,000 shares of company stock worth $172,425 over the last quarter. Insiders own 3.85% of the company’s stock.
Pacific Ethanol Company Profile
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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