PBF Energy Inc. (PBF) Expected to Announce Quarterly Sales of $5.61 Billion
Wall Street analysts expect PBF Energy Inc. (NYSE:PBF) to report sales of $5.61 billion for the current quarter, Zacks reports. Two analysts have provided estimates for PBF Energy’s earnings, with the lowest sales estimate coming in at $4.76 billion and the highest estimate coming in at $6.46 billion. PBF Energy reported sales of $4.51 billion in the same quarter last year, which indicates a positive year over year growth rate of 24.4%. The company is expected to report its next quarterly earnings report on Friday, October 27th.
On average, analysts expect that PBF Energy will report full-year sales of $5.61 billion for the current year, with estimates ranging from $19.29 billion to $22.40 billion. For the next financial year, analysts expect that the business will post sales of $20.64 billion per share, with estimates ranging from $19.29 billion to $21.98 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for PBF Energy.
PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the firm earned $0.14 earnings per share.
A number of research firms recently commented on PBF. Scotiabank set a $24.00 target price on shares of PBF Energy and gave the company a “buy” rating in a research report on Saturday, May 6th. BidaskClub raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Cowen and Company reissued a “buy” rating and set a $30.00 target price on shares of PBF Energy in a research report on Thursday, August 17th. Finally, Citigroup Inc. decreased their target price on shares of PBF Energy from $37.50 to $33.50 and set a “buy” rating for the company in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $24.00.
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Shares of PBF Energy (PBF) opened at 19.95 on Thursday. The company has a 50-day moving average price of $21.87 and a 200-day moving average price of $21.98. The company’s market capitalization is $2.19 billion. PBF Energy has a 12 month low of $18.48 and a 12 month high of $30.98.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.02%. PBF Energy’s dividend payout ratio is currently -363.64%.
In related news, insider Connor Thomas L. O purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was acquired at an average price of $20.17 per share, with a total value of $201,700.00. Following the completion of the acquisition, the insider now owns 105,135 shares in the company, valued at approximately $2,120,572.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Nimbley purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was bought at an average cost of $19.69 per share, with a total value of $984,500.00. Following the acquisition, the chief executive officer now owns 290,000 shares of the company’s stock, valued at approximately $5,710,100. The disclosure for this purchase can be found here. Company insiders own 2.55% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Allied Advisory Services Inc. boosted its position in PBF Energy by 1.0% in the second quarter. First Allied Advisory Services Inc. now owns 17,239 shares of the oil and gas company’s stock worth $380,000 after buying an additional 177 shares in the last quarter. Clinton Group Inc. boosted its position in PBF Energy by 0.6% in the first quarter. Clinton Group Inc. now owns 29,207 shares of the oil and gas company’s stock worth $648,000 after buying an additional 181 shares in the last quarter. Utah Retirement Systems boosted its position in PBF Energy by 1.0% in the second quarter. Utah Retirement Systems now owns 20,100 shares of the oil and gas company’s stock worth $447,000 after buying an additional 200 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in PBF Energy by 1.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 23,704 shares of the oil and gas company’s stock worth $526,000 after buying an additional 314 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in PBF Energy by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 26,436 shares of the oil and gas company’s stock worth $586,000 after buying an additional 316 shares during the last quarter.
PBF Energy Company Profile
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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