B. Riley Weighs in on Pacific Ethanol Inc’s FY2018 Earnings (PEIX)
Pacific Ethanol Inc (NASDAQ:PEIX) – Investment analysts at B. Riley issued their FY2018 EPS estimates for shares of Pacific Ethanol in a research note issued on Wednesday, November 7th. B. Riley analyst C. Driscoll expects that the oil and gas company will post earnings of ($1.01) per share for the year. B. Riley currently has a “Buy” rating and a $5.00 target price on the stock. B. Riley also issued estimates for Pacific Ethanol’s Q4 2018 earnings at ($0.33) EPS, Q1 2019 earnings at ($0.26) EPS, Q2 2019 earnings at ($0.19) EPS, Q3 2019 earnings at ($0.08) EPS, Q4 2019 earnings at ($0.04) EPS, FY2019 earnings at ($0.56) EPS and FY2020 earnings at ($0.16) EPS.
A number of other equities research analysts also recently weighed in on the company. HC Wainwright set a $14.00 price target on Pacific Ethanol and gave the company a “buy” rating in a research report on Monday, September 24th. ValuEngine upgraded Pacific Ethanol from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results 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). Pacific Ethanol had a negative net margin of 2.66% and a negative return on equity of 11.39%. The firm had revenue of $370.41 million for the quarter, compared to analysts’ expectations of $404.30 million.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC increased its holdings in shares of Pacific Ethanol by 184.5% in the second quarter. Valeo Financial Advisors LLC now owns 53,200 shares of the oil and gas company’s stock worth $112,000 after buying an additional 34,500 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Pacific Ethanol in the second quarter worth about $154,000. LMR Partners LLP purchased a new position in shares of Pacific Ethanol in the second quarter worth about $281,000. California Public Employees Retirement System increased its holdings 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 buying an additional 22,179 shares during the period. Finally, United Services Automobile Association increased its holdings in shares of Pacific Ethanol by 65.6% in the second quarter. United Services Automobile Association now owns 179,761 shares of the oil and gas company’s stock worth $467,000 after buying an additional 71,200 shares during the period. Institutional investors and hedge funds own 64.78% 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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