Green Plains, Inc. (GPRE) Forecasted to Post FY2017 Earnings of ($0.90) Per Share
Green Plains, Inc. (NASDAQ:GPRE) – Equities researchers at Jefferies Group cut their FY2017 earnings estimates for shares of Green Plains in a research report issued on Monday. Jefferies Group analyst L. Alexander now expects that the specialty chemicals company will earn ($0.90) per share for the year, down from their prior estimate of ($0.75). Jefferies Group has a “Buy” rating and a $25.00 price target on the stock. Jefferies Group also issued estimates for Green Plains’ Q4 2017 earnings at ($0.21) EPS.
GPRE has been the subject of a number of other research reports. Roth Capital set a $25.00 price objective on shares of Green Plains and gave the company a “buy” rating in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Green Plains from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. BMO Capital Markets restated an “outperform” rating and set a $25.00 price objective (down previously from $30.00) on shares of Green Plains in a report on Monday, November 6th. Piper Jaffray Companies upgraded shares of Green Plains from a “neutral” rating to an “overweight” rating in a report on Friday, November 3rd. Finally, Craig Hallum initiated coverage on shares of Green Plains in a report on Thursday, September 14th. They set a “buy” rating and a $29.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Green Plains presently has a consensus rating of “Hold” and a consensus target price of $25.33.
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Shares of Green Plains (NASDAQ:GPRE) opened at $16.60 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.70 and a current ratio of 1.57. Green Plains has a 12 month low of $15.95 and a 12 month high of $29.85.
Green Plains (NASDAQ:GPRE) last posted its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.47). The business had revenue of $901.20 million for the quarter, compared to the consensus estimate of $933.36 million. Green Plains had a negative return on equity of 0.88% and a net margin of 0.92%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 27th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, November 24th. Green Plains’s dividend payout ratio is currently 67.61%.
In other news, CFO John W. Neppl acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $503,400.00. Following the completion of the acquisition, the chief financial officer now owns 38,474 shares in the company, valued at $645,593.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wayne Hoovestol purchased 102,653 shares of Green Plains stock in a transaction dated Friday, November 17th. The stock was bought at an average price of $16.37 per share, with a total value of $1,680,429.61. Following the acquisition, the director now directly owns 218,277 shares of the company’s stock, valued at $3,573,194.49. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in shares of Green Plains by 85.9% in the second quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock valued at $149,000 after buying an additional 3,369 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of 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 valued at $156,000 after buying an additional 104 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Green Plains in the first quarter valued at approximately $204,000. Bayesian Capital Management LP acquired a new position in shares of Green Plains in the second quarter valued at approximately $255,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Green Plains in the second quarter valued at approximately $305,000.
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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