$71.18 Million in Sales Expected for PBF Logistics LP (PBFX) This Quarter
Analysts predict that PBF Logistics LP (NYSE:PBFX) will announce $71.18 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for PBF Logistics’ earnings. The highest sales estimate is $73.19 million and the lowest is $68.35 million. PBF Logistics posted sales of $62.33 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The firm is scheduled to announce its next earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that PBF Logistics will report full year sales of $283.97 million for the current fiscal year, with estimates ranging from $277.00 million to $289.90 million. For the next financial year, analysts expect that the firm will report sales of $317.72 million per share, with estimates ranging from $296.00 million to $336.40 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover PBF Logistics.
PBF Logistics (NYSE:PBFX) last posted its earnings results on Thursday, May 3rd. The pipeline company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). PBF Logistics had a return on equity of 56.03% and a net margin of 33.57%. The firm had revenue of $64.00 million for the quarter, compared to analyst estimates of $67.75 million. During the same quarter last year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC grew its holdings in shares of PBF Logistics by 1.5% during the fourth quarter. Global X Management Co. LLC now owns 400,732 shares of the pipeline company’s stock worth $8,395,000 after buying an additional 6,045 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PBF Logistics by 5.9% in the 4th quarter. Renaissance Technologies LLC now owns 234,915 shares of the pipeline company’s stock valued at $4,921,000 after purchasing an additional 13,127 shares in the last quarter. Atlantic Trust Group LLC boosted its holdings in PBF Logistics by 2.0% in the 1st quarter. Atlantic Trust Group LLC now owns 668,150 shares of the pipeline company’s stock valued at $12,327,000 after purchasing an additional 13,390 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in PBF Logistics in the 4th quarter valued at approximately $484,000. Finally, BP Capital Fund Advisors LLC boosted its holdings in PBF Logistics by 19.1% in the 4th quarter. BP Capital Fund Advisors LLC now owns 151,501 shares of the pipeline company’s stock valued at $3,174,000 after purchasing an additional 24,272 shares in the last quarter. 33.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PBFX traded down $0.15 during midday trading on Friday, reaching $21.25. 105 shares of the stock were exchanged, compared to its average volume of 143,275. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.81 and a current ratio of 1.81. PBF Logistics has a twelve month low of $17.75 and a twelve month high of $22.30. The stock has a market capitalization of $904.65 million, a P/E ratio of 9.85 and a beta of 1.17.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Tuesday, May 15th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, May 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 9.22%. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.49. PBF Logistics’s dividend payout ratio (DPR) is currently 90.32%.
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 Transportation and Terminaling, and Storage segments. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.
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