$5.66 Billion in Sales Expected for PBF Energy Inc. (PBF) This Quarter

Equities analysts predict that PBF Energy Inc. (NYSE:PBF) will announce sales of $5.66 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for PBF Energy’s earnings, with the lowest sales estimate coming in at $4.76 billion and the highest estimate coming in at $6.57 billion. PBF Energy posted sales of $4.51 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.5%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, November 2nd.

According to Zacks, analysts expect that PBF Energy will report full year sales of $5.66 billion for the current financial year, with estimates ranging from $19.29 billion to $22.53 billion. For the next financial year, analysts expect that the company will post sales of $20.65 billion per share, with estimates ranging from $19.29 billion to $22.02 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover PBF Energy.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share.

PBF has been the topic of several research reports. ValuEngine raised shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Barclays PLC reaffirmed an “underweight” rating and set a $26.00 price target (up from $24.00) on shares of PBF Energy in a report on Tuesday, October 10th. Zacks Investment Research raised shares of PBF Energy from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Saturday, October 14th. Citigroup Inc. decreased their price target on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Finally, BidaskClub lowered shares of PBF Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.60.

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Shares of PBF Energy (NYSE:PBF) traded down 1.12% during trading on Thursday, hitting $27.25. 50,261 shares of the stock were exchanged. PBF Energy has a 52 week low of $18.48 and a 52 week high of $30.98. The firm has a 50 day moving average price of $26.09 and a 200 day moving average price of $22.75. The firm’s market capitalization is $2.99 billion.

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of PBF Energy by 8.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,884,657 shares of the oil and gas company’s stock worth $264,551,000 after purchasing an additional 953,577 shares during the period. Vanguard Group Inc. lifted its position in shares of PBF Energy by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock worth $226,206,000 after purchasing an additional 141,619 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PBF Energy by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,230,934 shares of the oil and gas company’s stock worth $205,480,000 after purchasing an additional 635,728 shares during the period. BlackRock Inc. lifted its position in shares of PBF Energy by 94.0% in the 2nd quarter. BlackRock Inc. now owns 9,111,987 shares of the oil and gas company’s stock worth $202,832,000 after purchasing an additional 4,415,117 shares during the period. Finally, State Street Corp lifted its position in shares of PBF Energy by 48.0% in the 2nd quarter. State Street Corp now owns 4,969,947 shares of the oil and gas company’s stock worth $110,639,000 after purchasing an additional 1,611,707 shares during the period.

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

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