$0.71 Earnings Per Share Expected for PBF Energy Inc (PBF) This Quarter

Wall Street brokerages predict that PBF Energy Inc (NYSE:PBF) will post $0.71 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for PBF Energy’s earnings, with the highest EPS estimate coming in at $1.65 and the lowest estimate coming in at $0.13. PBF Energy posted earnings of ($0.04) per share in the same quarter last year, which indicates a positive year over year growth rate of 1,875%. The firm is expected to announce its next earnings report on Thursday, February 21st.

On average, analysts expect that PBF Energy will report full year earnings of $2.95 per share for the current fiscal year, with EPS estimates ranging from $2.28 to $3.77. For the next year, analysts anticipate that the company will report earnings of $5.52 per share, with EPS estimates ranging from $4.06 to $6.90. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for PBF Energy.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The company’s quarterly revenue was up 39.6% compared to the same quarter last year.

Several brokerages have recently weighed in on PBF. Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating in a report on Friday, September 7th. Credit Suisse Group increased their price target on PBF Energy from $46.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, October 5th. Mizuho began coverage on PBF Energy in a report on Wednesday, August 1st. They issued a “buy” rating and a $55.00 price target on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $46.00 price target on shares of PBF Energy in a report on Friday, August 3rd. Finally, Citigroup increased their price target on PBF Energy from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.58.

Shares of NYSE PBF traded down $0.68 during midday trading on Friday, hitting $40.45. The company’s stock had a trading volume of 1,453,690 shares, compared to its average volume of 2,055,228. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.79. PBF Energy has a 12-month low of $28.25 and a 12-month high of $53.91. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 0.93 and a beta of 1.51.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.97%. PBF Energy’s payout ratio is currently 105.26%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board increased its holdings in PBF Energy by 2.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 344,222 shares of the oil and gas company’s stock worth $14,433,000 after purchasing an additional 8,100 shares during the period. Millennium Management LLC increased its holdings in PBF Energy by 38.2% during the 2nd quarter. Millennium Management LLC now owns 1,071,985 shares of the oil and gas company’s stock worth $44,948,000 after purchasing an additional 296,586 shares during the period. Employees Retirement System of Texas purchased a new position in PBF Energy during the 2nd quarter worth $3,774,000. Bank of New York Mellon Corp increased its holdings in PBF Energy by 86.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,003,420 shares of the oil and gas company’s stock worth $167,862,000 after purchasing an additional 1,850,884 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in PBF Energy by 81.5% during the 2nd quarter. Renaissance Technologies LLC now owns 620,400 shares of the oil and gas company’s stock worth $26,013,000 after purchasing an additional 278,600 shares during the period. Institutional investors own 93.96% of the company’s stock.

PBF Energy Company Profile

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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