PBF Energy (PBF) Dips More Than Broader Markets: What You Should Know
In the latest trading session, PBF Energy (PBF) closed at $40.02, marking a -1.21% move from the previous day. This change lagged the S&P 500's 1.11% loss on the day. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 2.13%.
Prior to today's trading, shares of the refiner had gained 5.28% over the past month. This has outpaced the Oils-Energy sector's gain of 2.43% and lagged the S&P 500's gain of 7% in that time.
PBF Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 16, 2023. In that report, analysts expect PBF Energy to post earnings of $4.63 per share. This would mark year-over-year growth of 261.72%. Our most recent consensus estimate is calling for quarterly revenue of $9.6 billion, up 16.46% from the year-ago period.
Investors should also note any recent changes to analyst estimates for PBF Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 21.02% higher. PBF Energy currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, PBF Energy is holding a Forward P/E ratio of 3.83. For comparison, its industry has an average Forward P/E of 7.75, which means PBF Energy is trading at a discount to the group.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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