Pacific Ethanol (NASDAQ:PEIX) Announces Quarterly Earnings Results

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Pacific Ethanol (NASDAQ:PEIX) released its quarterly earnings results on Thursday. The oil and gas company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.42), RTT News reports. The company had revenue of $365.16 million for the quarter, compared to analysts’ expectations of $359.26 million. Pacific Ethanol had a negative return on equity of 18.75% and a negative net margin of 4.27%. During the same period in the previous year, the business posted ($0.18) EPS.

Pacific Ethanol stock traded down $0.04 during mid-day trading on Friday, hitting $0.56. 372,600 shares of the company were exchanged, compared to its average volume of 399,476. The business’s 50 day simple moving average is $0.58 and its two-hundred day simple moving average is $0.75. The company has a market capitalization of $28.74 million, a P/E ratio of -0.39 and a beta of 1.71. Pacific Ethanol has a 12-month low of $0.50 and a 12-month high of $1.80. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.77 and a quick ratio of 0.43.

Separately, HC Wainwright dropped their price target on Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, August 2nd.

In related news, CEO Neil M. Koehler acquired 100,000 shares of Pacific Ethanol stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $0.57 per share, for a total transaction of $57,000.00. Following the completion of the purchase, the chief executive officer now directly owns 932,985 shares in the company, valued at approximately $531,801.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.48% of the company’s stock.

About Pacific Ethanol

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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Earnings History for Pacific Ethanol (NASDAQ:PEIX)

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