Green Plains (NASDAQ:GPRE) Posts Earnings Results, Beats Expectations By $0.48 EPS

Green Plains (NASDAQ:GPRE) announced its earnings results on Wednesday. The specialty chemicals company reported $0.35 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.48, reports. Green Plains had a negative return on equity of 13.65% and a negative net margin of 6.34%.The firm had revenue of $508.49 million for the quarter, compared to the consensus estimate of $583.55 million. During the same period in the previous year, the business earned $0.69 EPS. The firm’s revenue for the quarter was down 22.8% on a year-over-year basis.

Green Plains Price Performance

Shares of Green Plains stock traded up $1.26 during trading hours on Wednesday, reaching $11.28. The stock had a trading volume of 4,387,115 shares, compared to its average volume of 2,010,269. The stock’s 50 day moving average is $10.16 and its 200 day moving average is $7.52. The company has a current ratio of 1.47, a quick ratio of 0.94 and a debt-to-equity ratio of 0.58. Green Plains has a twelve month low of $3.14 and a twelve month high of $12.60. The firm has a market capitalization of $739.57 million, a PE ratio of -4.70 and a beta of 1.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America raised their price target on Green Plains from $7.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, October 14th. Tudor Pickering upgraded shares of Green Plains from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Tudor, Pickering, Holt & Co. raised shares of Green Plains from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Plains in a report on Wednesday, October 8th. Finally, Oppenheimer set a $15.00 price objective on shares of Green Plains and gave the company an “outperform” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Green Plains has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Buying and Selling at Green Plains

In related news, insider Michelle Mapes sold 30,954 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $9.51, for a total value of $294,372.54. Following the completion of the transaction, the insider owned 60,558 shares of the company’s stock, valued at approximately $575,906.58. This represents a 33.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Green Plains

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its holdings in Green Plains by 1.3% during the second quarter. Rhumbline Advisers now owns 100,159 shares of the specialty chemicals company’s stock valued at $604,000 after purchasing an additional 1,246 shares in the last quarter. Creative Planning lifted its stake in Green Plains by 6.9% in the 2nd quarter. Creative Planning now owns 42,977 shares of the specialty chemicals company’s stock valued at $259,000 after buying an additional 2,759 shares in the last quarter. Sei Investments Co. boosted its holdings in Green Plains by 31.3% in the 2nd quarter. Sei Investments Co. now owns 17,764 shares of the specialty chemicals company’s stock worth $107,000 after buying an additional 4,232 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Green Plains in the 2nd quarter worth about $61,000. Finally, Snowden Capital Advisors LLC increased its stake in Green Plains by 173.5% during the 2nd quarter. Snowden Capital Advisors LLC now owns 49,097 shares of the specialty chemicals company’s stock worth $296,000 after buying an additional 31,144 shares in the last quarter.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.