PBF Logistics LP (NYSE:PBFX) Expected to Announce Earnings of $0.48 Per Share

Equities research analysts expect PBF Logistics LP (NYSE:PBFX) to post $0.48 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for PBF Logistics’ earnings. The highest EPS estimate is $0.49 and the lowest is $0.45. PBF Logistics reported earnings of $0.44 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, October 31st.

On average, analysts expect that PBF Logistics will report full-year earnings of $1.63 per share for the current financial year. For the next financial year, analysts expect that the business will report earnings of $2.03 per share, with EPS estimates ranging from $1.93 to $2.13. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover PBF Logistics.

PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. The business had revenue of $82.75 million during the quarter, compared to analyst estimates of $82.73 million. PBF Logistics had a return on equity of 50.22% and a net margin of 25.63%. PBF Logistics’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share.

A number of equities analysts have recently weighed in on PBFX shares. Wells Fargo & Co set a $25.00 price objective on PBF Logistics and gave the stock a “hold” rating in a research note on Monday, August 12th. Zacks Investment Research lowered PBF Logistics from a “hold” rating to a “sell” rating in a research note on Thursday.

In other news, Director Karen Berriman Davis bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $19.64 per share, for a total transaction of $29,460.00. Following the completion of the transaction, the director now owns 17,732 shares of the company’s stock, valued at $348,256.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 6,950 shares of company stock worth $137,748 over the last quarter. 0.90% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of PBF Logistics by 17.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 837,901 shares of the pipeline company’s stock worth $17,638,000 after buying an additional 122,303 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of PBF Logistics by 37.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 532,865 shares of the pipeline company’s stock worth $11,265,000 after buying an additional 145,355 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of PBF Logistics by 76,480.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,658 shares of the pipeline company’s stock worth $162,000 after buying an additional 7,648 shares in the last quarter. Securian Asset Management Inc bought a new stake in shares of PBF Logistics during the 2nd quarter worth about $271,000. Finally, First Trust Advisors LP raised its position in shares of PBF Logistics by 28.4% during the 2nd quarter. First Trust Advisors LP now owns 285,350 shares of the pipeline company’s stock worth $6,032,000 after buying an additional 63,147 shares in the last quarter. Institutional investors own 31.13% of the company’s stock.

Shares of NYSE PBFX traded up $0.12 during mid-day trading on Monday, reaching $21.42. The company’s stock had a trading volume of 231,676 shares, compared to its average volume of 67,702. The firm has a market capitalization of $1.33 billion, a PE ratio of 11.77, a P/E/G ratio of 3.28 and a beta of 0.80. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a fifty day moving average of $20.65 and a two-hundred day moving average of $20.86. PBF Logistics has a 52 week low of $19.17 and a 52 week high of $23.69.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a $0.515 dividend. This is an increase from PBF Logistics’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 9.62%. The ex-dividend date of this dividend was Wednesday, August 14th. PBF Logistics’s payout ratio is currently 113.19%.

About PBF Logistics

PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.

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