Pacific Ethanol Inc (PEIX) Expected to Announce Quarterly Sales of $386.56 Million

Equities analysts expect Pacific Ethanol Inc (NASDAQ:PEIX) to announce sales of $386.56 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pacific Ethanol’s earnings. The highest sales estimate is $396.40 million and the lowest is $374.27 million. Pacific Ethanol reported sales of $395.27 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.2%. The company is scheduled to issue its next earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Pacific Ethanol will report full year sales of $1.57 billion for the current fiscal year, with estimates ranging from $1.56 billion to $1.58 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.59 billion, with estimates ranging from $1.56 billion to $1.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Pacific Ethanol.

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

A number of equities research analysts have recently weighed in on PEIX shares. Zacks Investment Research lowered Pacific Ethanol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. ValuEngine upgraded Pacific Ethanol from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. B. Riley cut their price objective on Pacific Ethanol from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, HC Wainwright set a $8.00 price objective on Pacific Ethanol and gave the stock a “buy” rating in a research report on Friday, November 2nd.

Several hedge funds have recently modified their holdings of the company. Paloma Partners Management Co bought a new stake in shares of Pacific Ethanol during the second quarter valued at approximately $547,000. GSA Capital Partners LLP boosted its position in shares of Pacific Ethanol by 98.3% during the second quarter. GSA Capital Partners LLP now owns 376,600 shares of the oil and gas company’s stock valued at $979,000 after purchasing an additional 186,700 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Pacific Ethanol by 184.5% during the second quarter. Valeo Financial Advisors LLC now owns 53,200 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 34,500 shares in the last quarter. United Services Automobile Association boosted its position in shares of Pacific Ethanol by 65.6% during the second quarter. United Services Automobile Association now owns 179,761 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 71,200 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Pacific Ethanol during the second quarter valued at approximately $570,000. Hedge funds and other institutional investors own 64.78% of the company’s stock.

Shares of PEIX stock traded down $0.03 during trading hours on Friday, reaching $1.74. The company’s stock had a trading volume of 159,458 shares, compared to its average volume of 1,014,488. The firm has a market cap of $82.75 million, a P/E ratio of -2.05 and a beta of 1.89. Pacific Ethanol has a one year low of $1.38 and a one year high of $4.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.54 and a current ratio of 1.94.

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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Earnings History and Estimates for Pacific Ethanol (NASDAQ:PEIX)

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