PBF Energy (PBF) Stock Sinks As Market Gains: What You Should Know
PBF Energy (PBF) closed the most recent trading day at $41, moving -0.61% from the previous trading session. This change lagged the S&P 500's 0.56% gain on the day. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 1.35%.
Coming into today, shares of the refiner had lost 5.97% in the past month. In that same time, the Oils-Energy sector lost 8%, while the S&P 500 lost 1.48%.
Investors will be hoping for strength from PBF Energy as it approaches its next earnings release. In that report, analysts expect PBF Energy to post earnings of $2.65 per share. This would mark year-over-year growth of 657.14%. Our most recent consensus estimate is calling for quarterly revenue of $8.7 billion, down 4.85% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.71 per share and revenue of $37.45 billion, which would represent changes of -54.15% and -20.03%, respectively, from the prior year.
Any recent changes to analyst estimates for PBF Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.98% higher within the past month. PBF Energy is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, PBF Energy currently has a Forward P/E ratio of 3.85. This represents a discount compared to its industry's average Forward P/E of 6.32.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PBF Energy Inc. (PBF) : Free Stock Analysis Report
To read this article on Zacks.com click here.