$6.64 Million in Sales Expected for Profire Energy, Inc. (NASDAQ:PFIE) This Quarter

Wall Street brokerages expect Profire Energy, Inc. (NASDAQ:PFIE) to announce $6.64 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Profire Energy’s earnings, with the lowest sales estimate coming in at $5.50 million and the highest estimate coming in at $7.64 million. Profire Energy reported sales of $5.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.5%. The business is expected to report its next earnings report on Wednesday, March 9th.

According to Zacks, analysts expect that Profire Energy will report full-year sales of $24.57 million for the current fiscal year, with estimates ranging from $23.57 million to $25.71 million. For the next fiscal year, analysts forecast that the company will post sales of $28.62 million, with estimates ranging from $21.35 million to $33.03 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Profire Energy.

Profire Energy (NASDAQ:PFIE) last issued its earnings results on Wednesday, November 3rd. The oil and gas company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $6.94 million during the quarter, compared to analyst estimates of $5.91 million. Profire Energy had a negative return on equity of 1.89% and a negative net margin of 3.59%. During the same quarter last year, the firm earned ($0.02) EPS.

Several research analysts have recently commented on PFIE shares. Zacks Investment Research lowered Profire Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 24th. TheStreet upgraded Profire Energy from a “d+” rating to a “c” rating in a research report on Friday, November 19th.

Institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC bought a new stake in Profire Energy during the 2nd quarter valued at $33,000. Two Sigma Securities LLC bought a new stake in Profire Energy during the 3rd quarter valued at $34,000. Millennium Management LLC raised its stake in Profire Energy by 26.8% during the 3rd quarter. Millennium Management LLC now owns 41,918 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 8,870 shares in the last quarter. State Street Corp bought a new stake in Profire Energy during the 2nd quarter valued at $85,000. Finally, Marshall Wace LLP bought a new stake in Profire Energy during the 1st quarter valued at $134,000. 37.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PFIE opened at $1.18 on Friday. The firm has a market cap of $56.77 million, a price-to-earnings ratio of -59.00 and a beta of 1.31. The stock has a 50 day moving average of $1.11 and a 200-day moving average of $1.11. Profire Energy has a 52 week low of $0.88 and a 52 week high of $1.74.

About Profire Energy

Profire Energy, Inc engages in the manufacture of industrial combustion appliances. Its product categories include burner management, combustion control, waste management, fuel and gas train management, stands, pilots, burners, chemical management, flame arrestors, combustion equipment, accessories and components, and legacy.

Featured Article: What is a Swap?

Get a free copy of the Zacks research report on Profire Energy (PFIE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Profire Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Profire Energy and related companies with MarketBeat.com's FREE daily email newsletter.