Analysts Expect PBF Energy Inc (PBF) Will Announce Quarterly Sales of $4.99 Billion

Brokerages expect PBF Energy Inc (NYSE:PBF) to post sales of $4.99 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for PBF Energy’s earnings. The lowest sales estimate is $4.16 billion and the highest is $6.50 billion. PBF Energy reported sales of $5.80 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 14%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, May 1st.

According to Zacks, analysts expect that PBF Energy will report full year sales of $23.22 billion for the current fiscal year, with estimates ranging from $19.20 billion to $28.68 billion. For the next year, analysts forecast that the business will report sales of $26.28 billion, with estimates ranging from $20.22 billion to $36.31 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for PBF Energy.

PBF Energy (NYSE:PBF) last announced 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. PBF Energy had a return on equity of 11.96% and a net margin of 0.47%. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year.

Several equities research analysts have issued reports on the company. TheStreet downgraded PBF Energy from a “b” rating to a “c+” rating in a report on Friday, February 15th. ValuEngine downgraded PBF Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Raymond James lowered their price target on PBF Energy from $50.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, December 31st. Tudor Pickering downgraded PBF Energy from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Finally, Credit Suisse Group decreased their price objective on PBF Energy from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, January 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.40.

In other news, CEO Thomas J. Nimbley acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $30.03 per share, for a total transaction of $750,750.00. Following the completion of the acquisition, the chief executive officer now owns 365,990 shares in the company, valued at $10,990,679.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank lifted its position in shares of PBF Energy by 1.6% in the third quarter. Swiss National Bank now owns 186,000 shares of the oil and gas company’s stock valued at $9,283,000 after buying an additional 3,000 shares during the last quarter. Alliancebernstein L.P. increased its stake in PBF Energy by 2.2% during the 3rd quarter. Alliancebernstein L.P. now owns 60,964 shares of the oil and gas company’s stock worth $3,043,000 after acquiring an additional 1,323 shares during the period. Janus Henderson Group PLC increased its stake in PBF Energy by 42.8% during the 3rd quarter. Janus Henderson Group PLC now owns 309,600 shares of the oil and gas company’s stock worth $15,452,000 after acquiring an additional 92,800 shares during the period. Bank of New York Mellon Corp increased its stake in PBF Energy by 5.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,213,274 shares of the oil and gas company’s stock worth $210,284,000 after acquiring an additional 209,854 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in PBF Energy by 110.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 23,677 shares of the oil and gas company’s stock worth $1,182,000 after acquiring an additional 12,445 shares during the period. 95.29% of the stock is owned by hedge funds and other institutional investors.

Shares of PBF Energy stock opened at $31.14 on Friday. PBF Energy has a 1 year low of $28.66 and a 1 year high of $53.91. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.38. The company has a quick ratio of 0.64, a current ratio of 1.52 and a debt-to-equity ratio of 0.59.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 28th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, February 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.85%. PBF Energy’s payout ratio is presently 36.81%.

PBF Energy Company Profile

PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in 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.

See Also: Producer Price Index (PPI)

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Earnings History and Estimates for PBF Energy (NYSE:PBF)

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