$500.75 Million in Sales Expected for Renewable Energy Group Inc (NASDAQ:REGI) This Quarter

Share on StockTwits

Brokerages forecast that Renewable Energy Group Inc (NASDAQ:REGI) will announce sales of $500.75 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Renewable Energy Group’s earnings, with estimates ranging from $455.38 million to $570.00 million. Renewable Energy Group reported sales of $519.76 million in the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, March 3rd.

According to Zacks, analysts expect that Renewable Energy Group will report full year sales of $2.12 billion for the current financial year, with estimates ranging from $2.08 billion to $2.19 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.31 billion, with estimates ranging from $2.28 billion to $2.37 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Renewable Energy Group.

A number of brokerages recently commented on REGI. HC Wainwright initiated coverage on Renewable Energy Group in a research report on Tuesday. They issued a “buy” rating and a $35.00 price target on the stock. BidaskClub upgraded shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. BWS Financial reissued a “buy” rating on shares of Renewable Energy Group in a report on Friday, September 6th. Zacks Investment Research upgraded shares of Renewable Energy Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, ValuEngine raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $30.75.

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Renewable Energy Group by 102.9% during the second quarter. Invesco Ltd. now owns 1,616,509 shares of the oil and gas company’s stock worth $25,637,000 after purchasing an additional 819,667 shares during the period. Towle & Co. grew its position in shares of Renewable Energy Group by 100.4% during the 2nd quarter. Towle & Co. now owns 1,112,729 shares of the oil and gas company’s stock worth $17,648,000 after buying an additional 557,510 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Renewable Energy Group in the 2nd quarter valued at $8,215,000. DNB Asset Management AS increased its stake in shares of Renewable Energy Group by 35.4% in the 3rd quarter. DNB Asset Management AS now owns 1,970,176 shares of the oil and gas company’s stock valued at $29,562,000 after acquiring an additional 514,641 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Renewable Energy Group by 11.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,670,705 shares of the oil and gas company’s stock valued at $74,078,000 after acquiring an additional 473,992 shares during the period.

NASDAQ REGI traded down $1.15 during midday trading on Friday, hitting $17.71. The company had a trading volume of 533,319 shares, compared to its average volume of 682,413. The company has a market capitalization of $732.52 million, a PE ratio of 2.61 and a beta of 1.23. Renewable Energy Group has a twelve month low of $9.90 and a twelve month high of $29.61. The company has a current ratio of 1.43, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $16.69 and a 200-day moving average price of $14.98.

About Renewable Energy Group

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

Further Reading: Economic Reports

Get a free copy of the Zacks research report on Renewable Energy Group (REGI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Renewable Energy Group (NASDAQ:REGI)

Receive News & Ratings for Renewable Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renewable Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.