PBF Energy (PBF) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, PBF Energy (PBF) closed at $41.99, marking a +1.55% move from the previous day. This change outpaced the S&P 500's 1.46% gain on the day. Meanwhile, the Dow gained 1.09%, and the Nasdaq, a tech-heavy index, added 6.63%.
Prior to today's trading, shares of the refiner had gained 1.4% over the past month. This has lagged the Oils-Energy sector's gain of 1.9% and the S&P 500's gain of 4.75% in that time.
Wall Street will be looking for positivity from PBF Energy as it approaches its next earnings report date. This is expected to be February 16, 2023. The company is expected to report EPS of $4.49, up 250.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.83 billion, up 19.25% from the year-ago period.
Investors might also notice recent changes to analyst estimates for PBF Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 21.59% higher. PBF Energy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that PBF Energy has a Forward P/E ratio of 3.89 right now. This represents a discount compared to its industry's average Forward P/E of 8.3.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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