PBF Logistics LP (PBFX) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS
PBF Logistics LP (NYSE:PBFX) announced its earnings results on Thursday. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05, Bloomberg Earnings reports. The business had revenue of $65.50 million for the quarter, compared to the consensus estimate of $64.60 million. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The company’s revenue was up 35.2% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS.
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Several brokerages recently commented on PBFX. BidaskClub downgraded PBF Logistics from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine upgraded PBF Logistics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded PBF Logistics from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Credit Suisse Group AG set a $24.00 target price on PBF Logistics and gave the company a “hold” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $24.00.
About PBF Logistics
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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