PBF Logistics (PBFX) Issues Quarterly Earnings Results, Misses Expectations By $0.09 EPS

PBF Logistics (NYSE:PBFX) announced its earnings results on Thursday. The pipeline company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09), Bloomberg Earnings reports. PBF Logistics had a return on equity of 60.86% and a net margin of 36.52%. The business had revenue of $66.51 million for the quarter, compared to analysts’ expectations of $66.81 million. During the same period in the previous year, the company earned $0.57 earnings per share. PBF Logistics’s quarterly revenue was up 7.8% on a year-over-year basis.

Shares of PBF Logistics (NYSE:PBFX) opened at $20.70 on Friday. PBF Logistics has a 52 week low of $18.55 and a 52 week high of $22.70. The firm has a market cap of $871.43, a P/E ratio of 9.24, a P/E/G ratio of 2.25 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.40.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.485 per share. This is an increase from PBF Logistics’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 9.37%. The ex-dividend date is Tuesday, February 27th. PBF Logistics’s dividend payout ratio is presently 85.71%.

A number of institutional investors and hedge funds have recently made changes to their positions in PBFX. JPMorgan Chase & Co. increased its stake in PBF Logistics by 3,128.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock worth $884,000 after buying an additional 43,918 shares during the period. Wells Fargo & Company MN increased its stake in PBF Logistics by 18.5% during the 2nd quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock worth $1,603,000 after buying an additional 12,852 shares during the period. GSA Capital Partners LLP grew its holdings in PBF Logistics by 9.1% during the 2nd quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock worth $260,000 after acquiring an additional 1,114 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in PBF Logistics during the 3rd quarter worth approximately $1,222,000. Finally, Alps Advisors Inc. acquired a new position in PBF Logistics during the 3rd quarter worth approximately $468,000. 34.88% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on PBFX shares. BidaskClub raised shares of PBF Logistics from a “strong sell” rating to a “sell” rating in a research note on Friday, November 3rd. Zacks Investment Research raised shares of PBF Logistics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. PBF Logistics presently has an average rating of “Hold” and an average target price of $24.00.

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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.

Earnings History for PBF Logistics (NYSE:PBFX)

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