According to Zacks, “Green Plains Inc. is vertically integrated producer, marketer and distributer of ethanol. The company operates through four segments: Ethanol Production, Corn Oil Production, Agribusiness, and Marketing and Distribution. It produces ethanol and co-products, such as wet, modified wet or dried distillers grains, as well as extracts non-edible corn oil. The company is also involved in buying and selling bulk grain primarily corn and soybeans. Green Plains Inc., formerly known as Green Plains Renewable Energy, Inc., is headquartered in Omaha, Nebraska. “
A number of other brokerages also recently weighed in on GPRE. BidaskClub upgraded shares of Green Plains from a sell rating to a hold rating in a research report on Friday, September 13th. TheStreet cut shares of Green Plains from a c- rating to a d+ rating in a research report on Monday, July 1st. Stephens assumed coverage on shares of Green Plains in a research report on Monday. They set an equal weight rating and a $12.00 price objective for the company. Finally, ValuEngine raised shares of Green Plains from a hold rating to a buy rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $15.67.
Green Plains (NASDAQ:GPRE) last posted its earnings results on Monday, August 5th. The specialty chemicals company reported ($1.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.35). The firm had revenue of $895.90 million during the quarter, compared to the consensus estimate of $822.77 million. Green Plains had a negative return on equity of 14.93% and a negative net margin of 1.40%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. As a group, equities analysts forecast that Green Plains will post -4.07 earnings per share for the current fiscal year.
In related news, major shareholder Mangrove Partners Master Fund, sold 51,942 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $8.41, for a total value of $436,832.22. Following the sale, the insider now directly owns 3,983,012 shares in the company, valued at $33,497,130.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director S Eugene Edwards bought 15,000 shares of Green Plains stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $7.15 per share, for a total transaction of $107,250.00. Following the completion of the acquisition, the director now directly owns 45,620 shares of the company’s stock, valued at $326,183. The disclosure for this purchase can be found here. Insiders own 5.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in GPRE. BlackRock Inc. grew its stake in Green Plains by 1.1% in the 2nd quarter. BlackRock Inc. now owns 6,376,143 shares of the specialty chemicals company’s stock valued at $68,737,000 after purchasing an additional 70,115 shares during the period. Northern Trust Corp boosted its position in shares of Green Plains by 0.6% during the second quarter. Northern Trust Corp now owns 985,596 shares of the specialty chemicals company’s stock valued at $10,625,000 after purchasing an additional 5,749 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Green Plains by 158.1% during the second quarter. Renaissance Technologies LLC now owns 961,643 shares of the specialty chemicals company’s stock valued at $10,367,000 after purchasing an additional 589,043 shares in the last quarter. Carlson Capital L P boosted its position in shares of Green Plains by 99.8% during the second quarter. Carlson Capital L P now owns 928,453 shares of the specialty chemicals company’s stock valued at $10,009,000 after purchasing an additional 463,835 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in shares of Green Plains during the second quarter valued at approximately $9,458,000. Institutional investors and hedge funds own 97.18% of the company’s stock.
Green Plains Company Profile
Green Plains Inc produces, markets, and distributes ethanol in the United States and internationally. The company operates in four segments: Ethanol Production; Agribusiness and Energy Services; Food and Ingredients; and Partnership. The Ethanol Production segment produces and sells ethanol, distiller grains, and corn oil.
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