Green Plains Renewable Energy Inc. (NASDAQ:GPRE)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a research note issued to investors on Wednesday. They presently have a $32.00 target price on the stock. Jefferies Group’s target price suggests a potential upside of 17.43% from the company’s previous close.
The analysts wrote, “The purchase of Fleischman’s Vinegar Company caps a transformative summer in which Green Plains bolstered its ethanol footprint with the purchase, and subsequent drop down, of Abengoa (note) and issued a $170m convert to strengthen its non-ethanol asset base. FVC can add $0.30-$0.40 to 2017E EPS, excluding one-time costs, and enables FVC to integrate its production and invest in new applications while reducing cyclical risk. The News: Green Plains has acquired Fleischman’s Vinegar Company for $250m financed through debt ($135m from Green Plains’ 3Q16 convertible issue) and cash. The transaction closed on October 3, 2016. Assuming 9-10x EBITDA, we estimate the acquisition adds $25-$28m in EBITDA and $0.30-$0.40 in EPS, excluding synergies and corporate costs. Fleischman’s is a specialty ingredient solutions provider with a backbone in the highly- fragmented US industrial vinegar market. A customer-driven, innovation culture drives 2%-3% base growth and 2%-3% from new markets and/or mix shift (customers shifting away from chemical preservatives), and the competitive position should benefit from vertical integration.””
Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Green Plains Renewable Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Stephens raised Green Plains Renewable Energy from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.63.
Shares of Green Plains Renewable Energy (NASDAQ:GPRE) traded up 0.37% during midday trading on Wednesday, reaching $27.35. The company’s stock had a trading volume of 240,267 shares. The stock’s market capitalization is $1.05 billion. The stock’s 50-day moving average is $24.75 and its 200 day moving average is $20.24. Green Plains Renewable Energy has a 12 month low of $12.39 and a 12 month high of $28.37.
Green Plains Renewable Energy (NASDAQ:GPRE) last released its quarterly earnings data on Monday, August 1st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The firm earned $887.70 million during the quarter, compared to analysts’ expectations of $803.62 million. Green Plains Renewable Energy had a negative return on equity of 1.41% and a negative net margin of 0.43%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 earnings per share. On average, analysts expect that Green Plains Renewable Energy will post $0.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were paid a $0.12 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.76%. Green Plains Renewable Energy’s payout ratio is presently -137.14%.
Several institutional investors have recently bought and sold shares of GPRE. Deprince Race & Zollo Inc. raised its position 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 during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Green Plains Renewable Energy during the first quarter worth approximately $1,197,000. Nomura Holdings Inc. raised its position 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 during the last quarter. JPMorgan Chase & Co. raised its position 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 during the last quarter. Finally, Mount Lucas Management LP raised its position 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 during the last quarter. Institutional investors and hedge funds own 98.23% of the company’s stock.
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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