China Integrated Energy, Inc. (CBEH) recently surprised on the Zacks Consensus for the fourth quarter in a row and continues to be bullish, raising its full year revenue guidance.
China Integrated Energy distributes gasoline, petro-diesel and other petroleum products to retail customers throughout China, operates 12 retail gas stations in the Shaanxi Province, and produces alternative energy fuels at a bio-diesel facility with 100,000 ton annual capacity.
China Integrated Energy Beat by 11%
On Aug 4, China Integrated Energy reported its second quarter results and, once again, beat the Zacks Consensus. Earnings per share were 30 cents compared to the consensus of 27 cents.
It was another awesome quarter for sales growth, boosted by the addition of 5 retail gas stations compared to the year ago quarter.
Revenue jumped 61% to $104.4 million from $65.2 million in the second quarter of 2009. Strong demand for finished oil and heavy oil products fueled the quarter.
All three of the companies segments saw sales gains, with retail gasoline stations jumping 175% due to the additional 5 stations, increased demand and higher selling prices.
First half sales surged 72.6% to $213.8 million from $123.9 million.
Guidance Raised
The quarter was good enough that China Integrated raised its revenue guidance range to $425 million from $430 million, an increase of 46.8% to 48.5% over 2009. In March, the company had issued guidance of just $382 million.
2010 Zacks Consensus Estimates Rises
There has been only 1 estimate revision for 2010 in the last week but that revision was higher which boosted the Zacks Consensus by a penny to $1.16 per share.
Analysts see earnings growth of 11.5% in 2010.
It’s Still Cheap
China Integrated is still a value stock. In March it was trading at 8.9x forward earnings and now is at 8x. This is well under the industry average of 19.3.
The company also has a stellar PEG ratio of just 0.31, whereas the industry is at 2.4.
China Integrated Energy is Zacks #2 Rank (buy) stock.
Read the Mar 17, 2010 article.
Update to Previous Value Zacks Rank Buy Stocks
Corn Products International Inc. (CPO) continues to see a turnaround in business as volumes recovered in all regions in the second quarter. The company trades at just 12.3x forward earnings, well under the industry average of 14.5. Read the full article.
Lubrizol Corporation (LZ) did not disappoint in its recent earnings report as it crushed the Zacks Consensus Estimate for the third straight quarter and also raised full year guidance. What slowdown in the global economy? Read the full article.
Wyndham Worldwide Corporation (WYN) is coming out of the dark times as the company recently surprised on the second quarter by 24.4% as tourism picks up worldwide. It was the fourth earnings surprise in a row. Read the full article.
Eastman Chemical Company (EMN) continues to be hot as it recently posted a big beat for the second quarter as sales jumped 38% on higher volumes. Eastman is cheap, with a forward P/E of just 9.9. Read the full article.
Tracey Ryniec is the Value Stock Strategist for Zacks.com. She is also the Editor in charge of the market-beating Zacks Value Trader service. You can follow her at twitter.com/traceyryniec.
