Wall Street analysts predict that PBF Logistics LP (NYSE:PBFX) will post $90.97 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PBF Logistics' earnings. The lowest sales estimate is $89.22 million and the highest is $92.71 million. PBF Logistics posted sales of $86.38 million during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The company is scheduled to report its next quarterly earnings report on Thursday, October 29th.
According to Zacks, analysts expect that PBF Logistics will report full-year sales of $362.77 million for the current financial year. For the next financial year, analysts forecast that the business will report sales of $369.61 million, with estimates ranging from $362.48 million to $376.74 million. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that cover PBF Logistics.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.45 by $0.15. PBF Logistics had a net margin of 36.88% and a return on equity of 122.28%. The company had revenue of $89.13 million during the quarter, compared to analysts' expectations of $90.40 million.
Several equities research analysts have weighed in on the stock. Wells Fargo & Company reissued a "hold" rating on shares of PBF Logistics in a research report on Tuesday, August 11th. Zacks Investment Research raised shares of PBF Logistics from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a report on Friday, July 24th. ValuEngine downgraded shares of PBF Logistics from a "sell" rating to a "strong sell" rating in a report on Monday, August 3rd. Credit Suisse Group reissued a "hold" rating on shares of PBF Logistics in a report on Thursday, August 6th. Finally, R. F. Lafferty began coverage on shares of PBF Logistics in a research note on Wednesday. They set a "buy" rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. PBF Logistics currently has a consensus rating of "Hold" and a consensus price target of $12.70.
Several institutional investors and hedge funds have recently modified their holdings of the company. Hoover Financial Advisors Inc. purchased a new stake in PBF Logistics in the second quarter valued at approximately $27,000. Advisor Group Holdings Inc. acquired a new stake in shares of PBF Logistics during the 1st quarter worth about $41,000. State of Tennessee Treasury Department acquired a new stake in shares of PBF Logistics during the 2nd quarter worth about $103,000. Rockefeller Capital Management L.P. increased its position in shares of PBF Logistics by 12.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 15,581 shares of the pipeline company's stock worth $152,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Vident Investment Advisory LLC purchased a new position in PBF Logistics during the 1st quarter valued at about $111,000. 26.62% of the stock is owned by hedge funds and other institutional investors.
Shares of PBFX opened at $9.02 on Thursday. The stock has a market capitalization of $562.41 million, a P/E ratio of 4.21 and a beta of 1.70. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 6.04. The firm has a fifty day simple moving average of $9.74 and a two-hundred day simple moving average of $9.67. PBF Logistics has a twelve month low of $3.06 and a twelve month high of $21.96.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.30%. The ex-dividend date was Wednesday, August 12th. PBF Logistics's payout ratio is 60.30%.
PBF Logistics Company Profile
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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