Zacks: Brokerages Expect PBF Logistics LP (PBFX) to Announce $0.52 Earnings Per Share

Wall Street brokerages expect that PBF Logistics LP (NYSE:PBFX) will announce earnings per share of $0.52 for the current quarter, Zacks reports. Four analysts have issued estimates for PBF Logistics’ earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.43. PBF Logistics posted earnings per share of $0.55 during the same quarter last year, which indicates a negative year-over-year growth rate of 5.5%. The company is expected to announce its next quarterly earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that PBF Logistics will report full-year earnings of $2.19 per share for the current year, with EPS estimates ranging from $1.75 to $2.63. For the next fiscal year, analysts anticipate that the company will post earnings of $2.30 per share, with EPS estimates ranging from $1.88 to $2.66. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for PBF Logistics.

PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.09). The business had revenue of $66.51 million for the quarter, compared to the consensus estimate of $66.81 million. PBF Logistics had a net margin of 36.52% and a return on equity of 60.45%. PBF Logistics’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS.

Separately, Zacks Investment Research downgraded shares of PBF Logistics from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in PBFX. First Republic Investment Management Inc. bought a new position in PBF Logistics during the third quarter worth $206,000. Institutional & Family Asset Management LLC bought a new position in PBF Logistics during the third quarter worth $299,000. Alps Advisors Inc. bought a new position in PBF Logistics during the third quarter worth $468,000. Arrowstreet Capital Limited Partnership bought a new position in PBF Logistics during the fourth quarter worth $484,000. Finally, Raymond James & Associates bought a new position in PBF Logistics during the fourth quarter worth $539,000. 35.35% of the stock is owned by institutional investors and hedge funds.

PBF Logistics (NYSE:PBFX) traded down $0.20 during mid-day trading on Wednesday, hitting $19.85. 16,640 shares of the stock traded hands, compared to its average volume of 68,998. The company has a market capitalization of $846.39, a P/E ratio of 9.15, a P/E/G ratio of 2.42 and a beta of 1.16. PBF Logistics has a 12-month low of $18.55 and a 12-month high of $22.30. The company has a debt-to-equity ratio of 3.49, a current ratio of 2.15 and a quick ratio of 2.15.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.94 annualized dividend and a dividend yield of 9.77%. This is an increase from PBF Logistics’s previous quarterly dividend of $0.48. PBF Logistics’s dividend payout ratio (DPR) is presently 89.40%.

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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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