Zacks: Brokerages Anticipate PBF Energy Inc (PBF) Will Post Quarterly Sales of $5.40 Billion

Analysts expect PBF Energy Inc (NYSE:PBF) to report sales of $5.40 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for PBF Energy’s earnings. The lowest sales estimate is $4.55 billion and the highest is $6.00 billion. PBF Energy reported sales of $4.75 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that PBF Energy will report full-year sales of $5.40 billion for the current year, with estimates ranging from $19.67 billion to $24.00 billion. For the next year, analysts forecast that the business will post sales of $21.74 billion per share, with estimates ranging from $19.47 billion to $24.00 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for PBF Energy.

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PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, February 15th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.25). The business had revenue of $6.54 billion for the quarter, compared to analyst estimates of $5.23 billion. PBF Energy had a return on equity of 4.97% and a net margin of 1.91%. The firm’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period last year, the company posted ($0.71) EPS.

A number of research firms recently issued reports on PBF. Scotiabank reissued a “buy” rating and set a $41.00 target price on shares of PBF Energy in a research report on Wednesday, January 10th. Barclays reissued a “buy” rating and set a $44.00 target price on shares of PBF Energy in a research report on Friday, February 16th. ValuEngine raised shares of PBF Energy from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Citigroup increased their target price on shares of PBF Energy from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $35.00 target price on shares of PBF Energy in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.40.

A number of large investors have recently modified their holdings of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in PBF Energy by 260.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 120,778 shares of the oil and gas company’s stock valued at $4,282,000 after acquiring an additional 87,300 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in PBF Energy in the fourth quarter valued at approximately $3,153,000. MetLife Investment Advisors LLC acquired a new stake in PBF Energy in the fourth quarter valued at approximately $2,468,000. Glenmede Trust Co. NA grew its position in PBF Energy by 75.8% in the fourth quarter. Glenmede Trust Co. NA now owns 48,620 shares of the oil and gas company’s stock valued at $1,723,000 after acquiring an additional 20,960 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in PBF Energy in the fourth quarter valued at approximately $1,117,000.

Shares of PBF Energy (NYSE:PBF) opened at $32.86 on Monday. The stock has a market cap of $3,636.68, a P/E ratio of 8.91, a P/E/G ratio of 0.96 and a beta of 1.24. PBF Energy has a 1 year low of $18.48 and a 1 year high of $37.01. The company has a current ratio of 1.57, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 28th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, February 27th. PBF Energy’s dividend payout ratio (DPR) is 32.52%.

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PBF Energy Company Profile

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

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