Analysts expect PBF Logistics LP (NYSE:PBFX) to post $83.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for PBF Logistics’ earnings, with the highest sales estimate coming in at $84.91 million and the lowest estimate coming in at $83.21 million. PBF Logistics reported sales of $89.13 million in the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The company is expected to issue its next earnings results before the market opens on Thursday, July 29th.
On average, analysts expect that PBF Logistics will report full-year sales of $339.18 million for the current year, with estimates ranging from $333.83 million to $342.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $338.38 million, with estimates ranging from $320.14 million to $350.24 million. Zacks Investment Research’s sales 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, April 29th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. PBF Logistics had a net margin of 42.24% and a return on equity of 97.04%. The business had revenue of $87.51 million during the quarter, compared to the consensus estimate of $83.46 million.
In other news, insider Control Empresarial De Capital purchased 41,185 shares of PBF Logistics stock in a transaction dated Monday, May 3rd. The stock was bought at an average price of $15.35 per share, with a total value of $632,189.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Global Advisors LLC bought a new stake in shares of PBF Logistics during the second quarter valued at about $856,000. Tortoise Capital Advisors L.L.C. raised its stake in shares of PBF Logistics by 399.8% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 99,309 shares of the pipeline company’s stock valued at $1,462,000 after purchasing an additional 79,439 shares in the last quarter. Royal Bank of Canada raised its stake in shares of PBF Logistics by 280.7% during the first quarter. Royal Bank of Canada now owns 14,810 shares of the pipeline company’s stock valued at $218,000 after purchasing an additional 10,920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of PBF Logistics by 2,430.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,237,979 shares of the pipeline company’s stock valued at $18,223,000 after purchasing an additional 1,189,054 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of PBF Logistics by 32.0% during the first quarter. State of Tennessee Treasury Department now owns 19,038 shares of the pipeline company’s stock valued at $280,000 after purchasing an additional 4,615 shares in the last quarter. Institutional investors and hedge funds own 21.96% of the company’s stock.
Shares of PBFX stock traded down $0.16 during mid-day trading on Monday, reaching $13.62. 200 shares of the company were exchanged, compared to its average volume of 120,338. PBF Logistics has a fifty-two week low of $6.92 and a fifty-two week high of $16.70. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 3.79. The company has a market capitalization of $849.48 million, a P/E ratio of 5.49 and a beta of 1.82. The company has a 50 day moving average price of $15.13.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.81%. The ex-dividend date was Wednesday, May 12th. PBF Logistics’s dividend payout ratio (DPR) is 48.58%.
About PBF Logistics
PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates in two segments, Transportation and Terminaling; and Storage. The company's assets include the DCR rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR truck rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville terminals, which consists of two refined product terminals located in Knoxville, Tennessee.
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