Pacific Ethanol Inc (PEIX) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.18. Analysts had a consensus of $-0.07. The company posted revenue of $422.90 million in the period, compared to analysts expectations of $383.28 million. The company’s revenue was up 85.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.
Many Wall Street Analysts have commented on Pacific Ethanol Inc. Rodman & Renshaw Initiated Pacific Ethanol Inc on May 24, 2016 to “Buy”, Price Target of the shares are set at $11.
Pacific Ethanol Inc opened for trading at $7.45 and hit $7.5 on the upside on Thursday, eventually ending the session at $6.78, with a gain of 5.12% or 0.33 points. The heightened volatility saw the trading volume jump to 25,76,228 shares. Company has a market cap of $290 M.
In a different news, on Jun 9, 2016, Christopher W Wright (VP, Gen. Counsel & Secy) sold 31,000 shares at $6.00 per share price. According to the SEC, on Dec 4, 2015, Michael D Kandris (COO) purchased 3,000 shares at $4.89 per share price. On Nov 24, 2015, James R Sneed (VP of Ethanol Supply & Trading) purchased 2,500 shares at $3.75 per share price, according to the Form-4 filing with the securities and exchange commission.
Pacific Ethanol Inc. is a producer and marketer of low-carbon renewable fuels in the Western United States. The Company also sells ethanol co-products including wet distillers grain (WDG) a nutritious animal feed and corn oil. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline the Company provides transportation storage and delivery of ethanol through third-party service providers. The Company holds a 96% ownership interest in PE Op Co. the owner of four ethanol production facilities. The Company sells ethanol produced by the four production facilities and unrelated third parties to gasoline refining and distribution companies sells its WDG to dairy operators and animal feed distributors and sells its corn oil to poultry and biodiesel customers. The Company markets all the ethanol it sells through its subsidiary Kinergy Marketing LLC.