Zacks: Brokerages Expect PBF Energy Inc (NYSE:PBF) Will Post Earnings of $0.55 Per Share

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Equities research analysts forecast that PBF Energy Inc (NYSE:PBF) will announce earnings of $0.55 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for PBF Energy’s earnings. The highest EPS estimate is $1.42 and the lowest is ($0.36). PBF Energy reported earnings of $1.03 per share during the same quarter last year, which suggests a negative year over year growth rate of 46.6%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 13th.

On average, analysts expect that PBF Energy will report full year earnings of $0.79 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $1.59. For the next financial year, analysts anticipate that the firm will report earnings of $4.57 per share, with EPS estimates ranging from $2.17 to $6.91. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow PBF Energy.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, October 31st. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.29 billion. PBF Energy had a positive return on equity of 4.77% and a negative net margin of 0.36%. PBF Energy’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share.

Several equities analysts have recently issued reports on PBF shares. Tudor Pickering raised PBF Energy from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, December 2nd. Wells Fargo & Co upped their target price on PBF Energy from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. set a $30.00 target price on PBF Energy and gave the company a “sell” rating in a report on Friday, November 1st. ValuEngine lowered PBF Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $39.00 target price (up from $34.00) on shares of PBF Energy in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. PBF Energy has a consensus rating of “Buy” and a consensus price target of $39.70.

Shares of PBF stock traded up $0.96 during trading on Thursday, hitting $30.79. The company’s stock had a trading volume of 2,588,041 shares, compared to its average volume of 1,906,851. The company has a market cap of $3.55 billion, a PE ratio of 9.44, a P/E/G ratio of 5.70 and a beta of 1.61. The company has a current ratio of 1.56, a quick ratio of 0.64 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $32.05 and a 200-day moving average of $27.63. PBF Energy has a 52 week low of $21.09 and a 52 week high of $37.03.

The company also recently disclosed a dividend, which was paid on Tuesday, November 26th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This is a positive change from PBF Energy’s previous dividend of $0.29. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Energy’s dividend payout ratio is 36.81%.

In other news, insider Carso S.A. De C.V. Inversora acquired 107,268 shares of PBF Energy stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $25.45 per share, with a total value of $2,729,970.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 2,789,653 shares of company stock valued at $82,592,691. 3.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in PBF Energy by 29.9% during the second quarter. Invesco Ltd. now owns 2,297,906 shares of the oil and gas company’s stock valued at $71,924,000 after purchasing an additional 528,380 shares during the period. Van ECK Associates Corp lifted its position in shares of PBF Energy by 97.1% during the second quarter. Van ECK Associates Corp now owns 1,217,755 shares of the oil and gas company’s stock worth $38,116,000 after acquiring an additional 599,870 shares in the last quarter. Towle & Co. lifted its position in shares of PBF Energy by 132.0% during the second quarter. Towle & Co. now owns 1,150,514 shares of the oil and gas company’s stock worth $36,011,000 after acquiring an additional 654,670 shares in the last quarter. Phoenix Holdings Ltd. purchased a new stake in shares of PBF Energy during the third quarter worth $29,220,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of PBF Energy during the second quarter worth $32,081,000. 80.61% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

Further Reading: Return on Equity (ROE)

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Earnings History and Estimates for PBF Energy (NYSE:PBF)

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