Wall Street brokerages expect Renewable Energy Group Inc (NASDAQ:REGI) to announce $485.55 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Renewable Energy Group’s earnings, with the highest sales estimate coming in at $487.50 million and the lowest estimate coming in at $483.60 million. Renewable Energy Group reported sales of $689.25 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 29.6%. The firm is scheduled to issue its next earnings report on Thursday, May 2nd.
On average, analysts expect that Renewable Energy Group will report full year sales of $2.28 billion for the current financial year, with estimates ranging from $2.25 billion to $2.30 billion. For the next year, analysts anticipate that the company will post sales of $2.52 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Renewable Energy Group.
REGI has been the topic of several analyst reports. BidaskClub lowered shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Zacks Investment Research raised shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, December 26th. Finally, Piper Jaffray Companies initiated coverage on shares of Renewable Energy Group in a report on Thursday, April 4th. They issued an “overweight” rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.00.
In other news, Director Delbert Christensen bought 1,750 shares of the stock in a transaction dated Friday, March 8th. The shares were bought at an average cost of $23.01 per share, with a total value of $40,267.50. Following the completion of the transaction, the director now directly owns 76,191 shares of the company’s stock, valued at $1,753,154.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.01% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REGI. BlackRock Inc. boosted its position in Renewable Energy Group by 3.9% during the fourth quarter. BlackRock Inc. now owns 5,879,109 shares of the oil and gas company’s stock worth $151,092,000 after acquiring an additional 222,662 shares during the last quarter. Vanguard Group Inc. raised its stake in Renewable Energy Group by 32.2% during the third quarter. Vanguard Group Inc. now owns 3,289,677 shares of the oil and gas company’s stock valued at $94,743,000 after buying an additional 801,780 shares during the last quarter. Vanguard Group Inc raised its stake in Renewable Energy Group by 32.2% during the third quarter. Vanguard Group Inc now owns 3,289,677 shares of the oil and gas company’s stock valued at $94,743,000 after buying an additional 801,780 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Renewable Energy Group by 47.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 901,273 shares of the oil and gas company’s stock valued at $23,067,000 after buying an additional 291,331 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in Renewable Energy Group by 32.4% during the first quarter. DNB Asset Management AS now owns 808,914 shares of the oil and gas company’s stock valued at $17,764,000 after buying an additional 197,754 shares during the last quarter.
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.
Read More: What is a Special Dividend?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.