Vertex Energy, Inc. Forecasted to Post FY2024 Earnings of $1.65 Per Share (NASDAQ:VTNR)

Posted by Defense World Staff on Jun 26th, 2023

Vertex Energy, Inc. (NASDAQ:VTNR – Get Rating) – Investment analysts at Northland Capmk lifted their FY2024 earnings per share estimates for Vertex Energy in a research note issued on Friday, June 23rd. Northland Capmk analyst D. Schafer now expects that the industrial products company will earn $1.65 per share for the year, up from their prior estimate of $1.63. The consensus estimate for Vertex Energy’s current full-year earnings is ($0.36) per share.

Vertex Energy (NASDAQ:VTNR – Get Rating) last released its earnings results on Tuesday, May 9th. The industrial products company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.77). Vertex Energy had a return on equity of 36.41% and a net margin of 1.57%. The company had revenue of $691.14 million during the quarter, compared to analysts’ expectations of $768.53 million.

Other equities research analysts have also recently issued reports about the company. TD Cowen initiated coverage on Vertex Energy in a research note on Friday, March 10th. They issued a “market perform” rating and a $8.00 target price on the stock. Oppenheimer raised Vertex Energy from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research report on Wednesday, March 1st. StockNews.com cut Vertex Energy from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. HC Wainwright dropped their price objective on Vertex Energy from $15.00 to $12.00 in a research report on Thursday, June 8th. Finally, Craig Hallum increased their price objective on Vertex Energy from $12.00 to $15.00 in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.82.

Vertex Energy Price Performance

NASDAQ VTNR opened at $5.53 on Monday. Vertex Energy has a 12 month low of $5.15 and a 12 month high of $14.64. The stock’s fifty day moving average price is $6.77 and its 200-day moving average price is $7.36. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.47 and a quick ratio of 0.77.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of Vertex Energy by 190.5% in the first quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the industrial products company’s stock worth $45,000 after buying an additional 3,020 shares during the period. Legal & General Group Plc bought a new stake in Vertex Energy during the 2nd quarter valued at approximately $60,000. Advisor Group Holdings Inc. raised its stake in Vertex Energy by 122.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,770 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 3,180 shares during the period. FMR LLC raised its stake in Vertex Energy by 2,306.5% during the 1st quarter. FMR LLC now owns 8,495 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 8,142 shares during the period. Finally, Bank of America Corp DE bought a new stake in Vertex Energy during the 1st quarter valued at approximately $85,000. Institutional investors own 47.72% of the company’s stock.

Insiders Place Their Bets

In other news, COO James Gary Rhame bought 4,000 shares of the company’s stock in a transaction on Friday, May 12th. The shares were acquired at an average cost of $6.33 per share, with a total value of $25,320.00. Following the completion of the transaction, the chief operating officer now owns 14,648 shares of the company’s stock, valued at approximately $92,721.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO James Gary Rhame acquired 4,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average price of $6.33 per share, with a total value of $25,320.00. Following the completion of the purchase, the chief operating officer now directly owns 14,648 shares of the company’s stock, valued at $92,721.84. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Benjamin P. Cowart sold 66,667 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $8.29, for a total value of $552,669.43. Following the completion of the transaction, the chief executive officer now directly owns 5,517,274 shares in the company, valued at approximately $45,738,201.46. The disclosure for this sale can be found here. Insiders own 11.80% of the company’s stock.

About Vertex Energy

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Vertex Energy, Inc, an energy transition company that focuses on the production and distribution of conventional and alternative fuels. It engages in refining and distributing petroleum products comprising the mobile refinery and related operations. The company also sells ferrous and non-ferrous recyclable metal products, and markets Group III base oils and other petroleum-based products, as well as provides transportation and marine salvage services.