Wall Street analysts expect Renewable Energy Group Inc (NASDAQ:REGI) to announce sales of $595.77 million for the current quarter, Zacks reports. Three analysts have provided estimates for Renewable Energy Group’s earnings. The highest sales estimate is $621.00 million and the lowest is $574.10 million. Renewable Energy Group posted sales of $597.75 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.3%. The firm is expected to report its next earnings report on Tuesday, November 5th.
On average, analysts expect that Renewable Energy Group will report full-year sales of $2.20 billion for the current fiscal year, with estimates ranging from $2.16 billion to $2.26 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Renewable Energy Group.
Renewable Energy Group (NASDAQ:REGI) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.92). Renewable Energy Group had a negative net margin of 2.88% and a negative return on equity of 5.90%. The business had revenue of $560.64 million for the quarter, compared to analyst estimates of $572.93 million.
Several equities analysts recently issued reports on REGI shares. Roth Capital raised shares of Renewable Energy Group from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, June 24th. Zacks Investment Research raised shares of Renewable Energy Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 9th. BWS Financial reissued a “buy” rating on shares of Renewable Energy Group in a report on Friday, September 6th. BidaskClub raised shares of Renewable Energy Group from a “hold” rating to a “buy” rating in a report on Saturday, October 5th. Finally, ValuEngine raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.33.
REGI stock remained flat at $$15.15 during trading on Tuesday. 497,841 shares of the company traded hands, compared to its average volume of 743,189. Renewable Energy Group has a 12-month low of $9.90 and a 12-month high of $32.52. The stock has a market cap of $590.21 million, a PE ratio of 2.23 and a beta of 1.19. The stock has a 50 day moving average of $14.52 and a 200 day moving average of $16.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.58 and a current ratio of 1.14.
Several hedge funds and other institutional investors have recently made changes to their positions in REGI. Tower Research Capital LLC TRC grew its position in shares of Renewable Energy Group by 4,539.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the oil and gas company’s stock worth $46,000 after buying an additional 2,860 shares during the period. Meeder Asset Management Inc. grew its position in shares of Renewable Energy Group by 734.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 10,393 shares of the oil and gas company’s stock worth $165,000 after buying an additional 9,147 shares during the period. Private Advisors LLC acquired a new position in Renewable Energy Group during the second quarter valued at approximately $174,000. First Hawaiian Bank grew its holdings in Renewable Energy Group by 26.1% during the second quarter. First Hawaiian Bank now owns 14,330 shares of the oil and gas company’s stock valued at $227,000 after purchasing an additional 2,970 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in Renewable Energy Group by 22.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 14,762 shares of the oil and gas company’s stock valued at $234,000 after purchasing an additional 2,740 shares during the period.
Renewable Energy Group Company Profile
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.
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