PBF Logistics LP (PBFX) Expected to Announce Earnings of $0.55 Per Share

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Wall Street brokerages forecast that PBF Logistics LP (NYSE:PBFX) will announce earnings of $0.55 per share for the current quarter, according to Zacks. Four analysts have provided estimates for PBF Logistics’ earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.50. PBF Logistics reported earnings per share of $0.50 during the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The company is expected to report its next earnings results on Thursday, February 21st.

On average, analysts expect that PBF Logistics will report full-year earnings of $1.86 per share for the current year, with EPS estimates ranging from $1.77 to $2.12. For the next year, analysts expect that the firm will post earnings of $2.08 per share, with EPS estimates ranging from $1.78 to $2.52. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for PBF Logistics.

PBF Logistics (NYSE:PBFX) last released its quarterly earnings data on Wednesday, October 31st. The pipeline company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). PBF Logistics had a net margin of 27.78% and a return on equity of 47.64%. The firm had revenue of $70.60 million during the quarter, compared to analysts’ expectations of $70.30 million. During the same period in the previous year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis.

PBFX has been the subject of several research analyst reports. Zacks Investment Research downgraded PBF Logistics from a “buy” rating to a “hold” rating in a research note on Friday. Credit Suisse Group initiated coverage on PBF Logistics in a research note on Thursday, October 11th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, Wells Fargo & Co raised their price objective on PBF Logistics from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.88.

NYSE PBFX traded down $0.51 during mid-day trading on Tuesday, hitting $21.28. The stock had a trading volume of 59,292 shares, compared to its average volume of 65,886. PBF Logistics has a 52-week low of $17.75 and a 52-week high of $22.70. The company has a market capitalization of $985.40 million, a P/E ratio of 9.81 and a beta of 0.98. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.35 and a quick ratio of 1.35.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.50 dividend. This is an increase from PBF Logistics’s previous quarterly dividend of $0.50. This represents a $2.00 annualized dividend and a yield of 9.40%. The ex-dividend date is Wednesday, November 14th. PBF Logistics’s dividend payout ratio (DPR) is presently 91.24%.

A number of institutional investors have recently added to or reduced their stakes in PBFX. CIBC Private Wealth Group LLC increased its position in PBF Logistics by 32.8% during the second quarter. CIBC Private Wealth Group LLC now owns 887,629 shares of the pipeline company’s stock worth $18,640,000 after buying an additional 219,479 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in PBF Logistics during the second quarter worth $3,128,000. Bank of Montreal Can purchased a new position in PBF Logistics during the second quarter worth $945,000. Alps Advisors Inc. purchased a new position in PBF Logistics during the second quarter worth $467,000. Finally, First Republic Investment Management Inc. purchased a new position in PBF Logistics during the second quarter worth $391,000. 29.48% of the stock is owned by institutional investors.

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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