Equities analysts expect that PBF Energy Inc (NYSE:PBF) will post sales of $3.71 billion for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for PBF Energy’s earnings. The lowest sales estimate is $2.11 billion and the highest is $6.50 billion. PBF Energy reported sales of $6.43 billion in the same quarter last year, which would suggest a negative year over year growth rate of 42.3%. The firm is expected to announce its next earnings results on Thursday, October 29th.
According to Zacks, analysts expect that PBF Energy will report full-year sales of $17.17 billion for the current year, with estimates ranging from $15.15 billion to $20.79 billion. For the next fiscal year, analysts expect that the business will report sales of $20.40 billion, with estimates ranging from $9.94 billion to $26.42 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover PBF Energy.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($3.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.00) by ($1.19). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.89 billion. PBF Energy had a negative net margin of 2.70% and a negative return on equity of 11.97%. PBF Energy’s revenue was down 61.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS.
A number of equities research analysts have issued reports on PBF shares. Mizuho reduced their price objective on shares of PBF Energy from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Raymond James downgraded shares of PBF Energy to a “sell” rating in a research report on Monday, May 18th. Piper Sandler reduced their target price on shares of PBF Energy from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Morgan Stanley reduced their target price on shares of PBF Energy from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Finally, Goldman Sachs Group downgraded shares of PBF Energy from a “neutral” rating to a “sell” rating and reduced their target price for the company from $12.00 to $10.00 in a research report on Tuesday, June 23rd. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.20.
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In other PBF Energy news, insider Control Empresarial De Capital acquired 103,500 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average cost of $8.04 per share, with a total value of $832,140.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in PBF Energy by 34.9% in the 2nd quarter. Principal Financial Group Inc. now owns 425,150 shares of the oil and gas company’s stock worth $4,354,000 after purchasing an additional 109,946 shares in the last quarter. Bridgeway Capital Management Inc. purchased a new stake in PBF Energy in the 2nd quarter worth approximately $2,222,000. Nuveen Asset Management LLC lifted its stake in PBF Energy by 72.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 996,971 shares of the oil and gas company’s stock worth $10,209,000 after purchasing an additional 420,427 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PBF Energy by 39.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,014,812 shares of the oil and gas company’s stock worth $10,392,000 after purchasing an additional 288,142 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in PBF Energy by 23.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,907,437 shares of the oil and gas company’s stock worth $17,854,000 after purchasing an additional 367,587 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.
Shares of NYSE PBF opened at $8.30 on Friday. PBF Energy has a fifty-two week low of $5.19 and a fifty-two week high of $34.91. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.66 and a quick ratio of 0.87. The business has a 50-day moving average of $8.90 and a 200-day moving average of $11.15. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.77 and a beta of 2.58.
About PBF Energy
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
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