Green Plains, Inc. (NASDAQ:GPRE) shares hit a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $18.55 and last traded at $18.75, with a volume of 1,592,205 shares. The stock had previously closed at $19.75.
The specialty chemicals company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.29. The business had revenue of $886.30 million during the quarter, compared to analyst estimates of $986.88 million. Green Plains had a return on equity of 0.68% and a net margin of 0.19%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 2.78%. Green Plains’s dividend payout ratio (DPR) is presently 282.35%.
Several brokerages have recently commented on GPRE. BidaskClub cut Green Plains from a “hold” rating to a “sell” rating in a research report on Friday. Piper Jaffray Companies reiterated a “hold” rating and set a $19.00 price objective on shares of Green Plains in a report on Thursday, August 3rd. Roth Capital set a $27.00 price objective on Green Plains and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $25.00 price objective (down from $28.00) on shares of Green Plains in a report on Wednesday, August 2nd. Finally, ValuEngine lowered Green Plains from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $27.29.
In other Green Plains news, insider Todd A. Becker sold 5,600 shares of Green Plains stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $23.29, for a total transaction of $130,424.00. Following the sale, the insider now directly owns 708,088 shares of the company’s stock, valued at $16,491,369.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alain Treuer sold 25,900 shares of Green Plains stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $19.51, for a total value of $505,309.00. Following the sale, the director now directly owns 336,008 shares in the company, valued at $6,555,516.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,602 shares of company stock worth $1,875,511. 6.40% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in Green Plains by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 7,612 shares of the specialty chemicals company’s stock worth $156,000 after buying an additional 104 shares during the last quarter. Bank of Nova Scotia purchased a new position in Green Plains during the second quarter worth about $1,108,000. The Manufacturers Life Insurance Company boosted its position in Green Plains by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 29,433 shares of the specialty chemicals company’s stock worth $605,000 after buying an additional 1,513 shares during the period. Caxton Associates LP purchased a new position in Green Plains during the second quarter worth about $1,541,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Green Plains by 361.4% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 176,691 shares of the specialty chemicals company’s stock worth $3,630,000 after buying an additional 138,400 shares during the period.
The stock’s 50-day moving average price is $19.26 and its 200-day moving average price is $22.17. The stock has a market capitalization of $715.60 million, a P/E ratio of 100.88 and a beta of 1.42.
About Green Plains
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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