Equities research analysts predict that Renewable Energy Group, Inc. (NASDAQ:REGI) will report sales of $700.60 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Renewable Energy Group's earnings. The lowest sales estimate is $600.00 million and the highest is $785.40 million. Renewable Energy Group posted sales of $545.96 million during the same quarter last year, which suggests a positive year over year growth rate of 28.3%. The business is scheduled to announce its next earnings results on Tuesday, August 3rd.
On average, analysts expect that Renewable Energy Group will report full-year sales of $2.72 billion for the current year, with estimates ranging from $2.42 billion to $2.98 billion. For the next year, analysts expect that the company will report sales of $2.84 billion, with estimates ranging from $2.51 billion to $3.15 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Renewable Energy Group.
Renewable Energy Group (NASDAQ:REGI) last issued its earnings results on Sunday, May 2nd. The oil and gas company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.70. The company had revenue of $539.74 million during the quarter, compared to analyst estimates of $539.29 million. Renewable Energy Group had a net margin of 4.18% and a return on equity of 7.26%.
A number of equities research analysts have issued reports on REGI shares. Piper Sandler decreased their target price on shares of Renewable Energy Group from $104.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday, May 4th. Roth Capital reaffirmed a "neutral" rating and issued a $35.00 price objective (down previously from $90.00) on shares of Renewable Energy Group in a research note on Monday, May 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of Renewable Energy Group in a research note on Wednesday. They issued a "buy" rating and a $90.00 price objective for the company. Cowen assumed coverage on shares of Renewable Energy Group in a research note on Friday, March 26th. They issued an "outperform" rating and a $80.00 price objective for the company. Finally, Zacks Investment Research raised shares of Renewable Energy Group from a "strong sell" rating to a "hold" rating in a research note on Friday, May 7th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of "Buy" and a consensus price target of $87.90.
Shares of NASDAQ:REGI opened at $66.81 on Friday. The firm's fifty day moving average is $61.58. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 31.81 and a beta of 0.74. Renewable Energy Group has a 12-month low of $22.10 and a 12-month high of $117.00. The company has a quick ratio of 3.48, a current ratio of 4.97 and a debt-to-equity ratio of 0.01.
In other news, General Counsel Eric Bowen sold 1,999 shares of the business's stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $61.40, for a total transaction of $122,738.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Stroburg sold 9,786 shares of the business's stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $70.00, for a total transaction of $685,020.00. Following the transaction, the director now owns 200,293 shares in the company, valued at approximately $14,020,510. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,999 shares of company stock valued at $2,123,626. Company insiders own 2.47% of the company's stock.
Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Renewable Energy Group by 14.2% during the 1st quarter. Principal Financial Group Inc. now owns 308,899 shares of the oil and gas company's stock worth $20,399,000 after purchasing an additional 38,319 shares during the period. Millennium Management LLC bought a new position in shares of Renewable Energy Group during the 1st quarter worth about $1,756,000. Canada Pension Plan Investment Board increased its holdings in shares of Renewable Energy Group by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 43,700 shares of the oil and gas company's stock worth $2,886,000 after purchasing an additional 14,500 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in shares of Renewable Energy Group during the 1st quarter worth about $1,387,000. Finally, Voloridge Investment Management LLC bought a new stake in Renewable Energy Group in the first quarter valued at about $12,924,000. Institutional investors own 92.43% of the company's stock.
About Renewable Energy Group
Renewable Energy Group, Inc provides lower carbon transportation fuels in the United States and internationally. The company utilizes a 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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