Jefferies Comments On Green Plains EPS

According to Jefferies, Green Plains GPRE Q2 EPS of $0.14 was $0.05 above consensus and estimate. Jefferies said that Q2 should mark a trough this year, as Green Plains appears to have locked in a significant portion of (better) ethanol margins for the next two quarters. “We are raising 2011E EPS by $0.35 to $1.10 and maintaining 2012E EPS at $1.70.” Green Plains closed yesterday at $11.57.