Equities research analysts expect PBF Energy Inc (NYSE:PBF) to report $5.75 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for PBF Energy’s earnings. The highest sales estimate is $6.00 billion and the lowest is $5.32 billion. PBF Energy reported sales of $5.02 billion in the same quarter last year, which would suggest a positive year over year growth rate of 14.5%. The firm is expected to report its next earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that PBF Energy will report full year sales of $22.87 billion for the current fiscal year, with estimates ranging from $22.05 billion to $23.80 billion. For the next fiscal year, analysts anticipate that the company will report sales of $22.09 billion per share, with estimates ranging from $19.68 billion to $23.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow PBF Energy.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, May 3rd. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.10). The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.43 billion. PBF Energy had a net margin of 2.09% and a return on equity of 4.39%. PBF Energy’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) EPS.
A number of equities analysts have recently weighed in on PBF shares. Credit Suisse Group started coverage on PBF Energy in a research note on Monday, April 9th. They set a “neutral” rating and a $37.00 target price on the stock. Citigroup lowered PBF Energy from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Wednesday, April 18th. They noted that the move was a valuation call. Raymond James upgraded PBF Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, June 4th. Scotiabank reiterated a “sector perform” rating on shares of PBF Energy in a research note on Thursday, April 12th. Finally, Scotia Howard Weill reiterated a “sector perform” rating on shares of PBF Energy in a research note on Wednesday, April 11th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.00.
Shares of NYSE PBF traded down $1.89 during trading hours on Wednesday, reaching $42.57. 2,684,800 shares of the stock were exchanged, compared to its average volume of 2,212,068. The firm has a market cap of $4.99 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 1.32 and a beta of 1.26. The company has a current ratio of 1.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.74. PBF Energy has a 52 week low of $19.46 and a 52 week high of $50.99.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Tuesday, May 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, May 14th. PBF Energy’s dividend payout ratio is currently 105.26%.
Large investors have recently modified their holdings of the stock. Hanseatic Management Services Inc. grew its position in PBF Energy by 559.5% during the first quarter. Hanseatic Management Services Inc. now owns 3,146 shares of the oil and gas company’s stock worth $107,000 after buying an additional 2,669 shares in the last quarter. Verition Fund Management LLC acquired a new stake in PBF Energy during the fourth quarter worth approximately $222,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PBF Energy by 82.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,661 shares of the oil and gas company’s stock worth $236,000 after buying an additional 3,017 shares in the last quarter. Greenwich Investment Management Inc. acquired a new stake in PBF Energy during the fourth quarter worth approximately $236,000. Finally, Element Capital Management LLC acquired a new stake in PBF Energy during the first quarter worth approximately $257,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.
PBF Energy Company Profile
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
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