PBF Logistics LP (PBFX) Expected to Post Quarterly Sales of $65.56 Million

Analysts forecast that PBF Logistics LP (NYSE:PBFX) will post sales of $65.56 million for the current quarter, according to Zacks. Four analysts have issued estimates for PBF Logistics’ earnings, with the lowest sales estimate coming in at $61.83 million and the highest estimate coming in at $68.03 million. PBF Logistics posted sales of $61.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 15th.

On average, analysts expect that PBF Logistics will report full-year sales of $65.56 million for the current year, with estimates ranging from $250.13 million to $256.33 million. For the next fiscal year, analysts expect that the business will post sales of $276.33 million per share, with estimates ranging from $245.79 million to $299.57 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for PBF Logistics.

Several analysts have recently commented on PBFX shares. BidaskClub raised PBF Logistics from a “strong sell” rating to a “sell” rating in a research report on Friday, November 3rd. Zacks Investment Research raised PBF Logistics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, UBS Group decreased their target price on PBF Logistics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in shares of PBF Logistics by 18.5% during the second quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock worth $1,603,000 after acquiring an additional 12,852 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PBF Logistics by 3,128.1% during the second quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock worth $884,000 after acquiring an additional 43,918 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of PBF Logistics during the third quarter worth $1,217,000. Harvest Fund Advisors LLC raised its holdings in shares of PBF Logistics by 1.8% during the third quarter. Harvest Fund Advisors LLC now owns 1,307,569 shares of the pipeline company’s stock worth $27,459,000 after acquiring an additional 23,406 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC raised its holdings in shares of PBF Logistics by 3.4% during the third quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock worth $8,288,000 after acquiring an additional 13,150 shares in the last quarter. Institutional investors and hedge funds own 37.45% of the company’s stock.

Shares of PBF Logistics (PBFX) opened at $19.85 on Friday. The company has a market capitalization of $831.61, a price-to-earnings ratio of 8.86, a PEG ratio of 2.20 and a beta of 1.17. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40. PBF Logistics has a 12-month low of $18.55 and a 12-month high of $22.70.

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PBF Logistics Company Profile

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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