BidaskClub downgraded shares of PBF Logistics LP (NYSE:PBFX) from a sell rating to a strong sell rating in a report published on Wednesday, October 18th.
Several other equities analysts also recently commented on PBFX. UBS AG cut 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. ValuEngine upgraded PBF Logistics from a hold rating to a buy rating in a research report on Thursday, July 6th. Credit Suisse Group set a $24.00 target price on PBF Logistics and gave the stock a hold rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded PBF Logistics from a hold rating to a sell rating in a research report on Saturday, September 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $24.00.
Shares of PBF Logistics (PBFX) traded up $0.10 during trading on Wednesday, reaching $20.60. 246,663 shares of the company’s stock traded hands, compared to its average volume of 74,106. The company has a market capitalization of $858.84, a PE ratio of 9.15, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.26 and a quick ratio of 1.26.
PBF Logistics (NYSE:PBFX) last announced its earnings results on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. PBF Logistics had a net margin of 38.76% and a return on equity of 64.05%. The business had revenue of $65.50 million for the quarter, compared to analyst estimates of $64.60 million. During the same period last year, the firm posted $0.50 earnings per share. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. equities analysts forecast that PBF Logistics will post 2.2 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, November 10th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a yield of 9.32%. PBF Logistics’s payout ratio is currently 83.93%.
A number of hedge funds have recently bought and sold shares of PBFX. First Trust Advisors LP bought a new stake in shares of PBF Logistics in the second quarter valued at about $7,985,000. State of New Jersey Common Pension Fund D bought a new stake in shares of PBF Logistics in the third quarter valued at about $1,222,000. Marshall Wace North America L.P. bought a new stake in shares of PBF Logistics in the second quarter valued at about $1,065,000. JPMorgan Chase & Co. lifted its holdings in shares of PBF Logistics by 3,128.1% in the second quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock valued at $884,000 after purchasing an additional 43,918 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of PBF Logistics in the third quarter valued at about $468,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.
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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