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Biofuel Stock Earnings to Watch on Nov 2: REGI, PEIX, AMRS

Zacks Equity Research

After a deluge of Q3 earnings releases by a number of companies last week, we are gearing up for the next onslaught of reports this week. As of Oct 28, 68.5% of the market cap of the S&P 500 index has released quarterly numbers. Reported results reveal a 2.2% increase in third-quarter earnings on 1.3% higher revenues.

About 209 S&P 500 members are lining up to release quarterly numbers. Projections are of a 2% improvement in earnings on the back of 1.4% higher revenues, with four out of the 16 Zacks sectors witnessing growth in the negative territory. The picture should become clearer by the end of this week after the majority releases results. For more details, you may go through our Earnings Preview report.

For companies operating in the clean energy space, environmental considerations have been propelling demand for alternative sources of energy to a large extent. A U.S. Energy Information Administration (“EIA”) report projects that electricity generation from renewable sources will increase 9.5% in 2016 and 5.8% in 2017 in the country. Generation from renewables other than hydropower is predicted to soar 11.8% in 2016 and 11.1% in 2017.

Here are a few biofuel stocks that are scheduled to report third-quarter results on Nov 2.

Renewable Energy Group, Inc. REGI is involved in manufacturing and marketing biodiesel. The company focuses on converting natural fats, oils and greases into biodiesel. Last quarter, the company posted a negative earnings surprise of 23.81%. Renewable Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Our proven model does not conclusively show that Renewable Energy is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for this to happen and that is not the case here.

The company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 61 cents. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.

RENEWABLE ENERG Price and EPS Surprise

 

RENEWABLE ENERG Price and EPS Surprise | RENEWABLE ENERG Quote

Pacific Ethanol, Inc. PEIX is involved in marketing ethanol in the Western U.S. through Kinergy Marketing, a wholly-owned subsidiary of the company and the largest West Coast-based marketer of renewable fuels.

This Zacks Rank #3 stock posted a positive earnings surprise of 466.67% in the last quarter. For this quarter, the company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 7 cents.

PAC ETHANOL INC Price and EPS Surprise

 

PAC ETHANOL INC Price and EPS Surprise | PAC ETHANOL INC Quote

Amyris, Inc. AMRS is an integrated renewable products company applying industrial synthetic biology to genetically modify microorganisms to serve as living factories. The company is engaged in the development of farmesene – a molecule that serves as the base chemical building block for a wide range of renewable products to replace existing products.

Last quarter, the company posted a negative earnings surprise of 25.00%. It carries a Zacks Rank #3. Amyris has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 5 cents.

AMYRIS INC Price and EPS Surprise

 

AMYRIS INC Price and EPS Surprise | AMYRIS INC Quote

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PAC ETHANOL INC (PEIX): Free Stock Analysis Report
 
AMYRIS INC (AMRS): Free Stock Analysis Report
 
RENEWABLE ENERG (REGI): Free Stock Analysis Report
 
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