Equities research analysts predict that PBF Energy Inc (NYSE:PBF) will post sales of $5.06 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for PBF Energy’s earnings, with estimates ranging from $4.16 billion to $7.00 billion. PBF Energy posted sales of $5.80 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, May 2nd.
On average, analysts expect that PBF Energy will report full year sales of $23.58 billion for the current year, with estimates ranging from $19.20 billion to $28.68 billion. For the next year, analysts anticipate that the business will post sales of $26.53 billion, with estimates ranging from $20.22 billion to $36.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for PBF Energy.
Get PBF Energy alerts:PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 14th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.62 billion. PBF Energy had a net margin of 2.64% and a return on equity of 8.17%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS.
Several analysts have issued reports on PBF shares. Barclays restated a “buy” rating and issued a $62.00 price target on shares of PBF Energy in a research report on Friday, January 11th. Goldman Sachs Group lowered shares of PBF Energy from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $35.00 to $34.00 in a research report on Friday, January 25th. Piper Jaffray Companies reiterated an “overweight” rating on shares of PBF Energy in a research report on Thursday, January 10th. Credit Suisse Group decreased their target price on shares of PBF Energy from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Monday, January 7th. Finally, Morgan Stanley decreased their target price on shares of PBF Energy from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $45.83.
Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC lifted its holdings in PBF Energy by 675.4% during the 4th quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 3,296 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in PBF Energy by 172.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,908 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 2,475 shares during the last quarter. First Foundation Advisors bought a new position in PBF Energy during the 3rd quarter valued at about $207,000. Great Lakes Advisors LLC bought a new position in PBF Energy during the 3rd quarter valued at about $221,000. Finally, Calamos Advisors LLC bought a new position in PBF Energy during the 3rd quarter valued at about $225,000. 94.76% of the stock is owned by hedge funds and other institutional investors.
NYSE PBF traded up $0.08 during midday trading on Wednesday, hitting $35.06. The company had a trading volume of 2,856,577 shares, compared to its average volume of 1,494,265. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.79 and a quick ratio of 0.83. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 0.72 and a beta of 1.40. PBF Energy has a fifty-two week low of $29.09 and a fifty-two week high of $53.91.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 28th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.42%. The ex-dividend date is Wednesday, February 27th. PBF Energy’s dividend payout ratio is currently 105.26%.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.
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