$500.75 Million in Sales Expected for Renewable Energy Group Inc (NASDAQ:REGI) This Quarter

Wall Street brokerages forecast that Renewable Energy Group Inc (NASDAQ:REGI) will post sales of $500.75 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Renewable Energy Group’s earnings. The lowest sales estimate is $455.38 million and the highest is $570.00 million. Renewable Energy Group reported sales of $519.76 million during the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, March 3rd.

On average, analysts expect that Renewable Energy Group will report full year sales of $2.12 billion for the current financial year, with estimates ranging from $2.08 billion to $2.19 billion. For the next financial year, analysts expect that the company will post sales of $2.34 billion, with estimates ranging from $2.28 billion to $2.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Renewable Energy Group.

Renewable Energy Group (NASDAQ:REGI) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.13). Renewable Energy Group had a negative return on equity of 10.10% and a negative net margin of 4.78%. The firm had revenue of $584.37 million during the quarter, compared to the consensus estimate of $595.77 million.

A number of research firms have issued reports on REGI. Piper Jaffray Companies upped their target price on shares of Renewable Energy Group from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Zacks Investment Research raised shares of Renewable Energy Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 8th. ValuEngine raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 9th. BidaskClub raised Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Friday, December 20th. Finally, BWS Financial raised their price target on Renewable Energy Group from $31.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $41.75.

NASDAQ REGI traded down $1.04 on Tuesday, hitting $25.40. 615,808 shares of the company were exchanged, compared to its average volume of 847,370. The firm has a 50 day moving average of $23.42 and a two-hundred day moving average of $16.92. The company has a market cap of $1.03 billion, a P/E ratio of -8.82 and a beta of 1.39. The company has a current ratio of 1.43, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22. Renewable Energy Group has a 1-year low of $9.90 and a 1-year high of $29.61.

A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in Renewable Energy Group by 2.0% in the 1st quarter. First Trust Advisors LP now owns 104,698 shares of the oil and gas company’s stock valued at $2,299,000 after purchasing an additional 2,098 shares during the period. Northern Trust Corp raised its holdings in shares of Renewable Energy Group by 1.7% in the 2nd quarter. Northern Trust Corp now owns 812,443 shares of the oil and gas company’s stock valued at $12,885,000 after acquiring an additional 13,764 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Renewable Energy Group by 1.3% in the 2nd quarter. BlackRock Inc. now owns 5,970,300 shares of the oil and gas company’s stock valued at $94,689,000 after acquiring an additional 74,926 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Renewable Energy Group by 4,539.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 2,860 shares in the last quarter. Finally, CoreCommodity Management LLC increased its position in shares of Renewable Energy Group by 114.2% during the 2nd quarter. CoreCommodity Management LLC now owns 50,261 shares of the oil and gas company’s stock valued at $797,000 after purchasing an additional 26,795 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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