Renewable Energy Group, Inc. (NASDAQ:REGI) Expected to Post Earnings of $1.15 Per Share

Equities research analysts forecast that Renewable Energy Group, Inc. (NASDAQ:REGI) will announce earnings of $1.15 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Renewable Energy Group’s earnings, with the highest EPS estimate coming in at $1.45 and the lowest estimate coming in at $0.93. Renewable Energy Group posted earnings per share of $0.60 during the same quarter last year, which would indicate a positive year-over-year growth rate of 91.7%. The company is scheduled to issue its next earnings report on Thursday, November 4th.

On average, analysts expect that Renewable Energy Group will report full-year earnings of $4.60 per share for the current financial year, with EPS estimates ranging from $4.09 to $4.95. For the next financial year, analysts forecast that the company will post earnings of $3.46 per share, with EPS estimates ranging from $2.21 to $4.67. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Renewable Energy Group.

Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings results on Wednesday, August 4th. The oil and gas company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.36. Renewable Energy Group had a net margin of 6.90% and a return on equity of 12.32%.

REGI has been the topic of several recent analyst reports. Truist cut their price objective on shares of Renewable Energy Group from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, July 26th. assumed coverage on shares of Renewable Energy Group in a report on Wednesday, June 9th. They issued a “buy” rating and a $90.00 price target on the stock. Raymond James raised their price target on shares of Renewable Energy Group from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, August 6th. Citigroup started coverage on shares of Renewable Energy Group in a research note on Wednesday, June 9th. They set a “buy” rating on the stock. Finally, Truist Securities reiterated a “buy” rating and set a $61.10 price objective on shares of Renewable Energy Group in a research note on Monday, July 26th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Renewable Energy Group currently has a consensus rating of “Buy” and a consensus price target of $80.86.

In other Renewable Energy Group news, CFO Richard Craig Bealmear acquired 1,000 shares of the firm’s stock in a transaction on Thursday, August 12th. The stock was purchased at an average price of $55.32 per share, with a total value of $55,320.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,757 shares in the company, valued at approximately $318,477.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Eric Bowen sold 10,389 shares of Renewable Energy Group stock in a transaction on Monday, June 21st. The stock was sold at an average price of $63.93, for a total transaction of $664,168.77. Following the completion of the transaction, the general counsel now directly owns 71,818 shares of the company’s stock, valued at approximately $4,591,324.74. The disclosure for this sale can be found here. In the last three months, insiders have bought 6,500 shares of company stock valued at $326,430 and have sold 33,151 shares valued at $1,950,627. 2.47% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in REGI. First Trust Advisors LP boosted its holdings in shares of Renewable Energy Group by 2.0% during the first quarter. First Trust Advisors LP now owns 104,698 shares of the oil and gas company’s stock valued at $2,299,000 after acquiring an additional 2,098 shares during the period. Texas Permanent School Fund boosted its holdings in shares of Renewable Energy Group by 4.9% during the first quarter. Texas Permanent School Fund now owns 33,122 shares of the oil and gas company’s stock valued at $2,187,000 after acquiring an additional 1,540 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Renewable Energy Group by 82.6% during the first quarter. Daiwa Securities Group Inc. now owns 8,362 shares of the oil and gas company’s stock valued at $552,000 after acquiring an additional 3,783 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Renewable Energy Group by 5.2% during the first quarter. The Manufacturers Life Insurance Company now owns 23,895 shares of the oil and gas company’s stock valued at $1,578,000 after acquiring an additional 1,187 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Renewable Energy Group by 37.2% during the first quarter. Victory Capital Management Inc. now owns 226,827 shares of the oil and gas company’s stock valued at $14,980,000 after purchasing an additional 61,559 shares in the last quarter. 87.82% of the stock is owned by institutional investors.

Shares of REGI stock traded down $0.42 during trading hours on Friday, hitting $48.14. 15,557 shares of the company were exchanged, compared to its average volume of 1,130,501. The firm has a market cap of $2.42 billion, a PE ratio of 12.98 and a beta of 0.67. Renewable Energy Group has a 1 year low of $42.79 and a 1 year high of $117.00. The company has a quick ratio of 5.24, a current ratio of 6.92 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average of $55.07 and a 200 day moving average of $61.45.

About Renewable Energy Group

Renewable Energy Group, Inc is a holding company, which engages in the production and trade of biofuel and renewable chemicals. It operates through the following segments: Biomass-based Diesel and Services. The Biomass-based Diesel segment processes waste vegetable oils, animal fats, virgin vegetable oils and other feedstock’s and methanol into biomass-based diesel.

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

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