Equities research analysts expect Pacific Ethanol Inc (NASDAQ:PEIX) to report sales of $422.11 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Pacific Ethanol’s earnings. The lowest sales estimate is $409.70 million and the highest is $437.50 million. Pacific Ethanol posted sales of $441.72 million during the same quarter last year, which suggests a negative year over year growth rate of 4.4%. The company is expected to issue its next quarterly earnings report on Wednesday, March 7th.
On average, analysts expect that Pacific Ethanol will report full-year sales of $422.11 million for the current year, with estimates ranging from $1.65 billion to $1.68 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.76 billion per share, with estimates ranging from $1.71 billion to $1.81 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Pacific Ethanol.
PEIX has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a research note on Thursday, November 9th. Zacks Investment Research downgraded Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 28th. Finally, B. Riley initiated coverage on Pacific Ethanol in a research note on Tuesday, November 28th. They issued a “buy” rating and a $7.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Pacific Ethanol has a consensus rating of “Buy” and an average price target of $10.20.
In related news, Director William L. Jones sold 20,000 shares of Pacific Ethanol stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $4.30, for a total value of $86,000.00. Following the transaction, the director now directly owns 56,903 shares in the company, valued at approximately $244,682.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.87% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Pacific Ethanol by 7.5% in the 4th quarter. BlackRock Inc. now owns 5,557,773 shares of the oil and gas company’s stock worth $25,287,000 after acquiring an additional 386,167 shares during the last quarter. DnB Asset Management AS grew its holdings in shares of Pacific Ethanol by 2.1% in the 4th quarter. DnB Asset Management AS now owns 3,016,598 shares of the oil and gas company’s stock worth $13,726,000 after acquiring an additional 63,415 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Pacific Ethanol by 20.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,629,229 shares of the oil and gas company’s stock worth $14,592,000 after acquiring an additional 450,851 shares during the last quarter. Boston Partners grew its holdings in shares of Pacific Ethanol by 55.6% in the 3rd quarter. Boston Partners now owns 2,561,600 shares of the oil and gas company’s stock worth $14,217,000 after acquiring an additional 915,830 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Pacific Ethanol by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,653,951 shares of the oil and gas company’s stock worth $10,337,000 after acquiring an additional 113,819 shares during the last quarter. Institutional investors and hedge funds own 81.40% of the company’s stock.
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About Pacific Ethanol
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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