Brokers Set Expectations for PBF Energy Inc’s Q2 2018 Earnings (PBF)

PBF Energy Inc (NYSE:PBF) – Equities researchers at US Capital Advisors reduced their Q2 2018 earnings per share estimates for shares of PBF Energy in a note issued to investors on Wednesday. US Capital Advisors analyst C. Weiland now expects that the oil and gas company will post earnings of $1.04 per share for the quarter, down from their previous forecast of $1.08. US Capital Advisors also issued estimates for PBF Energy’s Q3 2018 earnings at $1.57 EPS and Q4 2018 earnings at $0.37 EPS.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 15th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.25). PBF Energy had a return on equity of 5.16% and a net margin of 1.91%. The business had revenue of $6.54 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the company posted ($0.71) EPS. PBF Energy’s quarterly revenue was up 37.6% on a year-over-year basis.

Several other equities research analysts also recently weighed in on PBF. ValuEngine upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reiterated a “buy” rating and set a $44.00 target price on shares of PBF Energy in a research note on Friday. Cowen downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $30.00 to $31.00 in a research note on Friday. Scotiabank reiterated a “buy” rating and set a $41.00 target price on shares of PBF Energy in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $34.00 target price on shares of PBF Energy in a research note on Tuesday, January 30th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. PBF Energy currently has a consensus rating of “Hold” and a consensus target price of $32.90.

Shares of PBF Energy (NYSE:PBF) opened at $30.67 on Monday. PBF Energy has a 12 month low of $18.48 and a 12 month high of $37.01. The firm has a market cap of $3,374.80, a PE ratio of 8.31, a PEG ratio of 0.89 and a beta of 1.21. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.81.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th will be given a $0.30 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.20 dividend on an annualized basis and a yield of 3.91%. PBF Energy’s payout ratio is currently 32.52%.

A number of large investors have recently made changes to their positions in PBF. Alliancebernstein L.P. lifted its position in PBF Energy by 4.6% in the second quarter. Alliancebernstein L.P. now owns 63,564 shares of the oil and gas company’s stock valued at $1,415,000 after purchasing an additional 2,771 shares during the period. Northern Trust Corp lifted its position in PBF Energy by 63.2% in the second quarter. Northern Trust Corp now owns 998,936 shares of the oil and gas company’s stock valued at $22,237,000 after purchasing an additional 386,930 shares during the period. Stifel Financial Corp lifted its position in PBF Energy by 26.9% in the second quarter. Stifel Financial Corp now owns 12,587 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 2,668 shares during the period. State Street Corp lifted its position in PBF Energy by 48.0% in the second quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock valued at $110,639,000 after purchasing an additional 1,611,707 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in PBF Energy by 4,637.7% in the second quarter. The Manufacturers Life Insurance Company now owns 161,271 shares of the oil and gas company’s stock valued at $3,590,000 after purchasing an additional 157,867 shares during the period.

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About PBF Energy

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

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