Green Plains Inc. (NASDAQ:GPRE) to Post Q2 2024 Earnings of $0.05 Per Share, Roth Capital Forecasts

Green Plains Inc. (NASDAQ:GPRE) – Equities researchers at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for shares of Green Plains in a research report issued on Monday, May 6th. Roth Capital analyst C. Irwin now expects that the specialty chemicals company will post earnings of $0.05 per share for the quarter, down from their prior forecast of $0.22. The consensus estimate for Green Plains’ current full-year earnings is $0.28 per share. Roth Capital also issued estimates for Green Plains’ Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.30 EPS, FY2024 earnings at ($0.21) EPS and FY2025 earnings at $2.45 EPS.

Green Plains (NASDAQ:GPRE) last issued its earnings results on Friday, May 3rd. The specialty chemicals company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.48). Green Plains had a negative net margin of 2.43% and a negative return on equity of 7.86%. The company had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $654.40 million. During the same quarter in the prior year, the company earned ($1.20) earnings per share. The company’s revenue was down 28.3% compared to the same quarter last year.

A number of other brokerages have also issued reports on GPRE. The Goldman Sachs Group cut their price target on shares of Green Plains from $39.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Stephens restated an “equal weight” rating and set a $24.00 price target on shares of Green Plains in a report on Tuesday. Bank of America dropped their price objective on Green Plains from $29.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday. Craig Hallum decreased their target price on Green Plains from $37.00 to $34.00 and set a “buy” rating for the company in a report on Monday. Finally, BMO Capital Markets cut their price target on shares of Green Plains from $25.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Green Plains has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Green Plains Stock Up 1.6 %

Shares of Green Plains stock opened at $19.58 on Thursday. The company’s 50 day moving average price is $21.52 and its 200-day moving average price is $23.28. Green Plains has a 52-week low of $18.75 and a 52-week high of $36.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.75. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -15.92 and a beta of 1.62.

Insider Buying and Selling

In other Green Plains news, Director Ejnar A. Knudsen III acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $24.73 per share, with a total value of $98,920.00. Following the completion of the transaction, the director now directly owns 40,913 shares of the company’s stock, valued at approximately $1,011,778.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of Green Plains in the 4th quarter worth $26,000. Covestor Ltd increased its position in shares of Green Plains by 50.4% during the 3rd quarter. Covestor Ltd now owns 2,546 shares of the specialty chemicals company’s stock valued at $76,000 after purchasing an additional 853 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Green Plains in the 4th quarter worth approximately $88,000. iA Global Asset Management Inc. purchased a new position in shares of Green Plains in the third quarter worth approximately $164,000. Finally, Cape Investment Advisory Inc. bought a new stake in Green Plains during the fourth quarter valued at approximately $196,000.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.