$597.33 Million in Sales Expected for Renewable Energy Group Inc (REGI) This Quarter

Brokerages expect that Renewable Energy Group Inc (NASDAQ:REGI) will post sales of $597.33 million for the current quarter, Zacks reports. Three analysts have provided estimates for Renewable Energy Group’s earnings, with estimates ranging from $587.80 million to $606.19 million. Renewable Energy Group posted sales of $580.15 million during the same quarter last year, which suggests a positive year over year growth rate of 3%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that Renewable Energy Group will report full year sales of $2.29 billion for the current financial year, with estimates ranging from $2.25 billion to $2.32 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.52 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Renewable Energy Group.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.41). The company had revenue of $478.21 million during the quarter, compared to analysts’ expectations of $480.79 million. Renewable Energy Group had a return on equity of 6.23% and a net margin of 1.52%.



A number of research firms have recently issued reports on REGI. Zacks Investment Research raised shares of Renewable Energy Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th. TheStreet lowered shares of Renewable Energy Group from a “b” rating to a “c+” rating in a research report on Friday, May 3rd. BidaskClub lowered shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Roth Capital lowered shares of Renewable Energy Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $22.00 in a research report on Friday, May 3rd. Finally, BWS Financial initiated coverage on shares of Renewable Energy Group in a research report on Wednesday, April 24th. They set a “buy” rating and a $31.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $28.40.

Shares of NASDAQ REGI traded down $0.02 during mid-day trading on Wednesday, reaching $16.67. The company had a trading volume of 1,107,600 shares, compared to its average volume of 594,305. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.27 and a quick ratio of 0.72. The firm has a market capitalization of $627.84 million, a price-to-earnings ratio of 2.46 and a beta of 0.94. Renewable Energy Group has a 12-month low of $15.50 and a 12-month high of $32.52.

In related news, Director Delbert Christensen purchased 1,750 shares of the stock in a transaction on Friday, March 8th. The shares were bought at an average price of $23.01 per share, for a total transaction of $40,267.50. Following the completion of the acquisition, the director now directly owns 76,191 shares in the company, valued at approximately $1,753,154.91. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter John Martin Harding purchased 2,500 shares of the stock in a transaction on Thursday, May 9th. The shares were bought at an average price of $16.72 per share, for a total transaction of $41,800.00. Following the acquisition, the director now owns 108,654 shares of the company’s stock, valued at $1,816,694.88. The disclosure for this purchase can be found here. Company insiders own 3.01% of the company’s stock.

A number of hedge funds have recently made changes to their positions in REGI. Bank of New York Mellon Corp grew its holdings in Renewable Energy Group by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 456,272 shares of the oil and gas company’s stock valued at $13,141,000 after purchasing an additional 3,639 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Renewable Energy Group by 54.6% in the third quarter. MetLife Investment Advisors LLC now owns 25,189 shares of the oil and gas company’s stock worth $725,000 after acquiring an additional 8,895 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Renewable Energy Group by 4.5% in the third quarter. TIAA CREF Investment Management LLC now owns 307,118 shares of the oil and gas company’s stock worth $8,845,000 after acquiring an additional 13,088 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Renewable Energy Group by 32.6% in the third quarter. Legal & General Group Plc now owns 79,827 shares of the oil and gas company’s stock worth $2,273,000 after acquiring an additional 19,647 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Renewable Energy Group by 32.2% in the third quarter. Vanguard Group Inc. now owns 3,289,677 shares of the oil and gas company’s stock worth $94,743,000 after acquiring an additional 801,780 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.

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

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