Green Plains Renewable Energy Inc. (NASDAQ:GPRE) – Research analysts at Jefferies Group reduced their Q3 2016 earnings per share (EPS) estimates for Green Plains Renewable Energy in a report released on Tuesday. Jefferies Group analyst L. Alexander now forecasts that the brokerage will post earnings per share of $0.34 for the quarter, down from their prior estimate of $0.39. Jefferies Group currently has a “Buy” rating and a $32.00 price target on the stock. Jefferies Group also issued estimates for Green Plains Renewable Energy’s FY2017 earnings at $1.80 EPS, FY2018 earnings at $2.65 EPS, FY2019 earnings at $3.15 EPS and FY2020 earnings at $3.90 EPS.
Several other equities research analysts have also recently issued reports on GPRE. Zacks Investment Research raised shares of 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 note on Thursday, July 14th. Stephens raised shares of 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 note on Tuesday. Finally, Roth Capital reaffirmed a “buy” rating and set a $33.00 price target (up from $25.00) on shares of Green Plains Renewable Energy in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Green Plains Renewable Energy presently has a consensus rating of “Buy” and an average price target of $27.00.
Shares of Green Plains Renewable Energy (NASDAQ:GPRE) traded down 0.50% during midday trading on Thursday, reaching $27.79. 165,996 shares of the company traded hands. The company’s 50 day moving average is $24.89 and its 200-day moving average is $20.29. Green Plains Renewable Energy has a 12 month low of $12.39 and a 12 month high of $28.37. The stock’s market capitalization is $1.06 billion.
Green Plains Renewable Energy (NASDAQ:GPRE) last announced its earnings results on Monday, August 1st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.29. Green Plains Renewable Energy had a negative net margin of 0.43% and a negative return on equity of 1.41%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $803.62 million. During the same period in the prior year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. raised its stake in Green Plains Renewable Energy by 7.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,838,154 shares of the company’s stock worth $36,248,000 after buying an additional 127,240 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Green Plains Renewable Energy during the first quarter worth about $1,197,000. Nomura Holdings Inc. raised its stake in Green Plains Renewable Energy by 42.7% in the second quarter. Nomura Holdings Inc. now owns 821,720 shares of the company’s stock worth $15,962,000 after buying an additional 245,720 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Green Plains Renewable Energy by 26.6% in the first quarter. JPMorgan Chase & Co. now owns 851,869 shares of the company’s stock worth $13,597,000 after buying an additional 178,793 shares in the last quarter. Finally, Mount Lucas Management LP raised its stake in Green Plains Renewable Energy by 11.3% in the first quarter. Mount Lucas Management LP now owns 43,292 shares of the company’s stock worth $691,000 after buying an additional 4,378 shares in the last quarter. Institutional investors own 98.23% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.72%. Green Plains Renewable Energy’s dividend payout ratio is currently -137.14%.
About Green Plains Renewable Energy
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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