Wall Street brokerages forecast that Pacific Ethanol Inc (NASDAQ:PEIX) will announce $377.12 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Pacific Ethanol’s earnings, with the lowest sales estimate coming in at $363.64 million and the highest estimate coming in at $390.60 million. Pacific Ethanol posted sales of $410.52 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.1%. The company is scheduled to issue its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that Pacific Ethanol will report full year sales of $1.52 billion for the current year, with estimates ranging from $1.47 billion to $1.56 billion. For the next year, analysts forecast that the business will post sales of $1.60 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Pacific Ethanol.

Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.20). Pacific Ethanol had a negative net margin of 4.46% and a negative return on equity of 19.59%. The company had revenue of $355.80 million for the quarter, compared to analyst estimates of $387.87 million.

A number of research analysts have recently weighed in on the stock. Roth Capital cut shares of Pacific Ethanol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Pacific Ethanol in a research note on Friday, May 3rd. ValuEngine cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $4.00.

Hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its stake in Pacific Ethanol by 32.2% in the 4th quarter. California Public Employees Retirement System now owns 189,775 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 46,240 shares during the period. United Services Automobile Association grew its stake in Pacific Ethanol by 7.4% in the 4th quarter. United Services Automobile Association now owns 197,761 shares of the oil and gas company’s stock worth $170,000 after acquiring an additional 13,700 shares during the period. Norges Bank purchased a new stake in shares of Pacific Ethanol during the 4th quarter valued at $191,000. Geode Capital Management LLC grew its stake in shares of Pacific Ethanol by 41.9% during the 4th quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock valued at $283,000 after buying an additional 97,240 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Pacific Ethanol by 109.7% during the 4th quarter. Acadian Asset Management LLC now owns 350,742 shares of the oil and gas company’s stock valued at $302,000 after buying an additional 183,454 shares during the period. 38.82% of the stock is owned by hedge funds and other institutional investors.

Shares of PEIX traded down $0.03 during mid-day trading on Thursday, reaching $0.78. 229,426 shares of the company’s stock were exchanged, compared to its average volume of 379,598. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.48 and a current ratio of 0.75. The stock’s 50-day simple moving average is $0.99. Pacific Ethanol has a 52-week low of $0.76 and a 52-week high of $3.24. The company has a market cap of $38.90 million, a P/E ratio of -0.55 and a beta of 2.29.

Pacific Ethanol Company Profile

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, 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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