In the latest trading session, PBF Energy (PBF) closed at $41.32, marking a +1.1% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 5.66%.
Prior to today's trading, shares of the refiner had gained 15.22% over the past month. This has outpaced the Oils-Energy sector's gain of 2.66% and the S&P 500's gain of 3.44% in that time.
Wall Street will be looking for positivity from PBF Energy as it approaches its next earnings report date. In that report, analysts expect PBF Energy to post earnings of $2.46 per share. This would mark a year-over-year decline of 76.75%. Our most recent consensus estimate is calling for quarterly revenue of $9.77 billion, down 30.6% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.06 per share and revenue of $40.1 billion. These totals would mark changes of -61.22% and -14.38%, respectively, from last year.
Any recent changes to analyst estimates for PBF Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 9.22% lower. PBF Energy is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, PBF Energy currently has a Forward P/E ratio of 4.51. This represents a discount compared to its industry's average Forward P/E of 7.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
To follow PBF in the coming trading sessions, be sure to utilize Zacks.com.
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