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

Brokerages forecast that Renewable Energy Group Inc (NASDAQ:REGI) will post sales of $500.75 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Renewable Energy Group’s earnings, with the lowest sales estimate coming in at $455.38 million and the highest estimate coming in at $570.00 million. Renewable Energy Group posted sales of $519.76 million in the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The business is expected to report its next quarterly earnings report on Tuesday, March 3rd.

According to Zacks, 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 year, analysts expect that the business will post sales of $2.34 billion, with estimates ranging from $2.28 billion to $2.38 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Renewable Energy Group.

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

A number of equities analysts recently weighed in on REGI shares. BWS Financial raised their price objective on Renewable Energy Group from $31.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Zacks Investment Research upgraded Renewable Energy Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Roth Capital boosted their price target on Renewable Energy Group from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. HC Wainwright started coverage on Renewable Energy Group in a research report on Tuesday, December 3rd. They set a “buy” rating and a $35.00 price objective for the company. Finally, ValuEngine upgraded Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.75.

NASDAQ REGI traded down $1.04 during trading hours on Tuesday, hitting $25.40. The company had a trading volume of 615,808 shares, compared to its average volume of 847,370. Renewable Energy Group has a 52 week low of $9.90 and a 52 week high of $29.61. The firm has a 50 day simple moving average of $23.42 and a 200 day simple moving average of $16.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 1.43. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -8.82 and a beta of 1.39.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Renewable Energy Group by 7.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 93,636 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 6,800 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Renewable Energy Group by 42.3% in the third quarter. Russell Investments Group Ltd. now owns 85,013 shares of the oil and gas company’s stock valued at $1,276,000 after purchasing an additional 25,290 shares during the last quarter. 6 Meridian increased its holdings in shares of Renewable Energy Group by 1.2% in the fourth quarter. 6 Meridian now owns 44,611 shares of the oil and gas company’s stock valued at $1,202,000 after purchasing an additional 548 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Renewable Energy Group in the third quarter valued at approximately $3,001,000. Finally, Point72 Asset Management L.P. increased its stake in Renewable Energy Group by 272.7% during the third quarter. Point72 Asset Management L.P. now owns 492,376 shares of the oil and gas company’s stock worth $7,388,000 after acquiring an additional 360,259 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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