Jefferies Group reiterated their buy rating on shares of Green Plains Renewable Energy Inc. (NASDAQ:GPRE) in a report published on Wednesday morning. Jefferies Group currently has a $32.00 target price on the stock.
“The purchase of Fleischman’s Vinegar Company caps a transformative summer in which Green Plains bolstered its ethanol footprint with the purchase, and subsequent drop down, of Abengoa (note) and issued a $170m convert to strengthen its non-ethanol asset base. FVC can add $0.30-$0.40 to 2017E EPS, excluding one-time costs, and enables FVC to integrate its production and invest in new applications while reducing cyclical risk. The News: Green Plains has acquired Fleischman’s Vinegar Company for $250m financed through debt ($135m from Green Plains’ 3Q16 convertible issue) and cash. The transaction closed on October 3, 2016. Assuming 9-10x EBITDA, we estimate the acquisition adds $25-$28m in EBITDA and $0.30-$0.40 in EPS, excluding synergies and corporate costs. Fleischman’s is a specialty ingredient solutions provider with a backbone in the highly- fragmented US industrial vinegar market. A customer-driven, innovation culture drives 2%-3% base growth and 2%-3% from new markets and/or mix shift (customers shifting away from chemical preservatives), and the competitive position should benefit from vertical integration.”,” the firm’s analyst wrote.
GPRE has been the topic of a number of other research reports. Zacks Investment Research raised Green Plains Renewable Energy from a hold rating to a buy rating and set a $25.00 price target on the stock in a research report on Thursday, July 14th. Stephens raised Green Plains Renewable Energy from an equal weight rating to an overweight rating and set a $32.00 price target on the stock in a research report on Tuesday, October 4th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $27.25.
Shares of Green Plains Renewable Energy (NASDAQ:GPRE) opened at 27.43 on Wednesday. The stock’s 50 day moving average price is $25.15 and its 200-day moving average price is $20.43. Green Plains Renewable Energy has a 52 week low of $12.39 and a 52 week high of $28.37. The firm’s market capitalization is $1.05 billion.
Green Plains Renewable Energy (NASDAQ:GPRE) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Green Plains Renewable Energy had a negative return on equity of 1.41% and a negative net margin of 0.43%. The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $803.62 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities analysts predict that Green Plains Renewable Energy will post $0.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.48 dividend on an annualized basis and a yield of 1.75%. Green Plains Renewable Energy’s dividend payout ratio (DPR) is -137.14%.
A number of hedge funds have recently modified their holdings of GPRE. Teacher Retirement System of Texas boosted its stake in shares of Green Plains Renewable Energy by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,054 shares of the company’s stock worth $100,000 after buying an additional 608 shares during the period. Feltz Wealth PLAN Inc. bought a new stake in shares of Green Plains Renewable Energy during the second quarter worth about $106,000. Mason Street Advisors LLC bought a new stake in shares of Green Plains Renewable Energy during the second quarter worth about $139,000. Public Employees Retirement System of Ohio boosted its stake in shares of Green Plains Renewable Energy by 26.2% in the second quarter. Public Employees Retirement System of Ohio now owns 7,584 shares of the company’s stock worth $150,000 after buying an additional 1,574 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Green Plains Renewable Energy by 254.8% in the second quarter. BlackRock Inc. now owns 10,435 shares of the company’s stock worth $206,000 after buying an additional 7,494 shares during the period. 98.23% of the stock is currently owned by institutional investors and hedge funds.
Green Plains Renewable Energy Company Profile
Green Plains Inc (Green Plains) is a vertically integrated producer, marketer and distributor of ethanol. The Company operates through four segments: Ethanol Production, Agribusiness, Marketing and Distribution, and Partnership. The Company’s ethanol production segment is engaged in the production of ethanol and related distillers grain.
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