$5.61 Billion in Sales Expected for PBF Energy Inc. (PBF) This Quarter
Wall Street brokerages forecast that PBF Energy Inc. (NYSE:PBF) will announce $5.61 billion in sales for the current quarter, according to Zacks Investment Research. 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 posted sales of $4.51 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 24.4%. The company is scheduled to issue 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 year, analysts forecast 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 research analysts that follow PBF Energy.
PBF Energy (NYSE:PBF) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same quarter last year, the firm posted $0.14 earnings per share.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Tudor Pickering raised PBF Energy from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Scotiabank set a $24.00 price target on PBF Energy and gave the stock a “buy” rating in a research report on Monday, June 26th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $30.00 price target on shares of PBF Energy in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. PBF Energy currently has a consensus rating of “Hold” and an average price target of $24.00.
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PBF Energy (PBF) opened at 25.46 on Monday. The company’s 50-day moving average price is $22.31 and its 200 day moving average price is $21.94. The stock’s market capitalization is $2.79 billion. PBF Energy has a 52-week low of $18.48 and a 52-week high of $30.98.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, August 11th. PBF Energy’s payout ratio is currently -363.64%.
Hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its stake in shares of PBF Energy by 167.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock worth $1,673,000 after acquiring an additional 47,041 shares in the last quarter. UBS Group AG lifted its stake in PBF Energy by 4.6% in the 1st quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock valued at $1,877,000 after buying an additional 3,706 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in PBF Energy by 50.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock valued at $105,000 after buying an additional 1,580 shares in the last quarter. Cadence Capital Management LLC lifted its stake in PBF Energy by 30.4% in the 2nd quarter. Cadence Capital Management LLC now owns 25,875 shares of the oil and gas company’s stock valued at $576,000 after buying an additional 6,025 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in PBF Energy in the 1st quarter valued at about $113,000.
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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