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Green Plains (GPRE) Soars 7.0%: Is Further Upside Left in the Stock?
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Green Plains Renewable Energy (GPRE - Free Report) shares ended the last trading session 7% higher at $10.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 26.1% gain over the past four weeks.
Green Plains' rally reflects its signing of an agreement with Freepoint Commodities to monetize tax credits under 45Z. The deal enables the sale of 2025 Clean Fuel Production Credits from Green Plains’ three Nebraska facilities. The company has also signed a term sheet to monetize tax credits from additional facilities expected to qualify under 45Z this year.
This ethanol production, marketing and commodities company is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of -137.1%. Revenues are expected to be $548.25 million, down 16.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Green Plains, the consensus EPS estimate for the quarter has been revised 11.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GPRE going forward to see if this recent jump can turn into more strength down the road.
Green Plains is a member of the Zacks Chemical - Specialty industry. One other stock in the same industry, PPG Industries (PPG - Free Report) , finished the last trading session 0.9% higher at $109.02. PPG has returned -3.5% over the past month.
PPG Industries' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.12. Compared to the company's year-ago EPS, this represents a change of -0.5%. PPG Industries currently boasts a Zacks Rank of #3 (Hold).
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Green Plains (GPRE) Soars 7.0%: Is Further Upside Left in the Stock?
Green Plains Renewable Energy (GPRE - Free Report) shares ended the last trading session 7% higher at $10.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 26.1% gain over the past four weeks.
Green Plains' rally reflects its signing of an agreement with Freepoint Commodities to monetize tax credits under 45Z. The deal enables the sale of 2025 Clean Fuel Production Credits from Green Plains’ three Nebraska facilities. The company has also signed a term sheet to monetize tax credits from additional facilities expected to qualify under 45Z this year.
This ethanol production, marketing and commodities company is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of -137.1%. Revenues are expected to be $548.25 million, down 16.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Green Plains, the consensus EPS estimate for the quarter has been revised 11.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GPRE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Green Plains is a member of the Zacks Chemical - Specialty industry. One other stock in the same industry, PPG Industries (PPG - Free Report) , finished the last trading session 0.9% higher at $109.02. PPG has returned -3.5% over the past month.
PPG Industries' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.12. Compared to the company's year-ago EPS, this represents a change of -0.5%. PPG Industries currently boasts a Zacks Rank of #3 (Hold).