Zacks Research Decreases Earnings Estimates for PBF Energy

Key Points

• Zacks Research has reduced its FY2027 earnings per share (EPS) estimates for PBF Energy from $1.00 to $0.82, while the current full-year consensus estimate is at ($1.12) per share.
• PBF Energy reported a quarterly EPS of ($1.03), surpassing analysts' estimates of ($1.19) by $0.16, but saw a 14.4% revenue decline year-over-year to $7.48 billion.
• The company is experiencing mixed analyst ratings, with one Buy rating, seven Hold ratings, and six Sell ratings, while consensus price target stands at $24.83.

PBF Energy Inc. (NYSE:PBF - Free Report) - Equities researchers at Zacks Research decreased their FY2027 earnings per share estimates for PBF Energy in a report released on Monday, September 1st. Zacks Research analyst Team now anticipates that the oil and gas company will earn $0.82 per share for the year, down from their prior forecast of $1.00. The consensus estimate for PBF Energy's current full-year earnings is ($1.12) per share.

PBF Energy (NYSE:PBF - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, beating analysts' consensus estimates of ($1.19) by $0.16. The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company's quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.54) earnings per share.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company raised their price target on PBF Energy from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Piper Sandler reaffirmed an "underweight" rating and issued a $22.00 target price (up previously from $21.00) on shares of PBF Energy in a report on Monday, August 4th. Mizuho lifted their price target on PBF Energy from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 13th. Citigroup increased their price objective on PBF Energy from $16.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Scotiabank restated a "sector perform" rating and issued a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, PBF Energy presently has an average rating of "Reduce" and a consensus price target of $24.83.

PBF Energy Stock Performance

PBF traded up $1.83 during trading on Thursday, hitting $30.24. The stock had a trading volume of 4,462,229 shares, compared to its average volume of 3,216,243. The firm has a market cap of $3.50 billion, a PE ratio of -3.52 and a beta of 0.97. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. PBF Energy has a 12 month low of $13.61 and a 12 month high of $34.31. The company has a 50 day simple moving average of $24.77 and a 200-day simple moving average of $21.30.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. PBF Energy's dividend payout ratio is currently -12.81%.

Institutional Investors Weigh In On PBF Energy

Several institutional investors and hedge funds have recently made changes to their positions in PBF. Bank of New York Mellon Corp grew its holdings in shares of PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company's stock worth $40,504,000 after purchasing an additional 260,464 shares during the last quarter. M&T Bank Corp acquired a new position in PBF Energy in the first quarter valued at about $300,000. Nuveen Asset Management LLC grew its stake in PBF Energy by 94.7% during the fourth quarter. Nuveen Asset Management LLC now owns 568,901 shares of the oil and gas company's stock worth $15,104,000 after buying an additional 276,672 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in PBF Energy during the fourth quarter worth about $803,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of PBF Energy during the first quarter worth approximately $191,000. Institutional investors and hedge funds own 96.29% of the company's stock.

About PBF Energy

PBF Energy Inc, through 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 from crude oil.