PBF Energy (PBF) closed at $34.38 in the latest trading session, marking a -0.84% move from the prior day. This change lagged the S&P 500's daily gain of 1.96%. Meanwhile, the Dow gained 1.57%, and the Nasdaq, a tech-heavy index, lost 3.03%.
Coming into today, shares of the refiner had lost 21.06% in the past month. In that same time, the Oils-Energy sector gained 6.43%, while the S&P 500 gained 2.19%.
Wall Street will be looking for positivity from PBF Energy as it approaches its next earnings report date. This is expected to be May 5, 2023. The company is expected to report EPS of $2.46, up 602.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.58 billion, down 6.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.69 per share and revenue of $37.25 billion, which would represent changes of -54.24% and -20.46%, 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 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.1% higher. PBF Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, PBF Energy currently has a Forward P/E ratio of 3.24. This valuation marks a discount compared to its industry's average Forward P/E of 6.23.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% 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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