Renewable Energy Group Inc (NASDAQ:REGI) Expected to Announce Quarterly Sales of $514.76 Million

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Wall Street brokerages forecast that Renewable Energy Group Inc (NASDAQ:REGI) will announce $514.76 million in sales for the current quarter, according to Zacks. Three analysts have provided 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 during the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The business is scheduled to announce its next earnings report on Tuesday, March 3rd.

According to Zacks, analysts expect that Renewable Energy Group will report full year sales of $2.14 billion for the current fiscal year, with estimates ranging from $2.08 billion to $2.19 billion. For the next financial year, analysts anticipate that the company will post sales of $2.33 billion, with estimates ranging from $2.29 billion to $2.37 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Renewable Energy Group.

REGI has been the subject of several analyst reports. BidaskClub raised Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Zacks Investment Research upgraded Renewable Energy Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 9th. BWS Financial reissued a “buy” rating on shares of Renewable Energy Group in a research report on Friday, September 6th. ValuEngine upgraded Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, HC Wainwright started coverage on shares of Renewable Energy Group in a research report on Tuesday. They issued a “buy” rating and a $35.00 price objective for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Renewable Energy Group presently has an average rating of “Buy” and a consensus target price of $30.75.

Renewable Energy Group stock traded up $0.56 during midday trading on Friday, reaching $17.81. The company’s stock had a trading volume of 27,086 shares, compared to its average volume of 542,515. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.43 and a quick ratio of 0.77. The stock has a market capitalization of $672.26 million, a P/E ratio of 2.63 and a beta of 1.23. The stock’s 50-day simple moving average is $16.55 and its 200-day simple moving average is $14.96. Renewable Energy Group has a 52-week low of $9.90 and a 52-week high of $29.61.

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Renewable Energy Group by 4,539.7% in the second 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 during the last quarter. Meeder Asset Management Inc. boosted its position in Renewable Energy Group by 734.1% in the second quarter. Meeder Asset Management Inc. now owns 10,393 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 9,147 shares during the last quarter. Private Advisors LLC bought a new stake in Renewable Energy Group in the 2nd quarter valued at about $174,000. Mason Street Advisors LLC lifted its holdings in Renewable Energy Group by 5.4% during the 3rd quarter. Mason Street Advisors LLC now owns 13,229 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 672 shares in the last quarter. Finally, Allen Capital Group LLC bought a new position in shares of Renewable Energy Group in the third quarter worth $208,000.

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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Earnings History and Estimates for Renewable Energy Group (NASDAQ:REGI)

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