Equities research analysts expect PBF Logistics LP (NYSE:PBFX) to report sales of $76.25 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for PBF Logistics’ earnings, with the highest sales estimate coming in at $82.78 million and the lowest estimate coming in at $61.32 million. PBF Logistics posted sales of $67.40 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.1%. The business is expected to announce its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that PBF Logistics will report full year sales of $308.90 million for the current year, with estimates ranging from $245.79 million to $334.19 million. For the next financial year, analysts expect that the company will post sales of $322.64 million, with estimates ranging from $246.30 million to $360.91 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover PBF Logistics.
PBF Logistics (NYSE:PBFX) last issued its earnings results on Wednesday, May 1st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). The company had revenue of $78.85 million during the quarter, compared to analyst estimates of $79.08 million. PBF Logistics had a return on equity of 45.77% and a net margin of 25.11%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share.
PBFX has been the topic of a number of recent research reports. Wells Fargo & Co restated a “hold” rating on shares of PBF Logistics in a report on Monday, February 18th. Zacks Investment Research upgraded PBF Logistics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 6th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in shares of PBF Logistics by 227.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the pipeline company’s stock valued at $94,000 after buying an additional 3,240 shares in the last quarter. SEI Investments Co purchased a new position in shares of PBF Logistics during the first quarter valued at $104,000. Canton Hathaway LLC purchased a new position in shares of PBF Logistics during the fourth quarter valued at $151,000. Tortoise Index Solutions LLC grew its holdings in shares of PBF Logistics by 100.0% during the fourth quarter. Tortoise Index Solutions LLC now owns 7,835 shares of the pipeline company’s stock valued at $157,000 after buying an additional 3,918 shares in the last quarter. Finally, Kore Private Wealth LLC purchased a new position in shares of PBF Logistics during the first quarter valued at $159,000. Institutional investors and hedge funds own 23.92% of the company’s stock.
Shares of NYSE PBFX traded up $0.15 during mid-day trading on Monday, reaching $20.25. The company had a trading volume of 87,344 shares, compared to its average volume of 99,691. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.92 and a beta of 0.79. PBF Logistics has a 1-year low of $19.17 and a 1-year high of $23.69.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 10.07%. This is a boost from PBF Logistics’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 14th. PBF Logistics’s payout ratio is presently 112.09%.
About PBF Logistics
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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