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PBF Energy (PBF) Gains As Market Dips: What You Should Know
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PBF Energy (PBF - Free Report) closed the most recent trading day at $43.50, moving +1.99% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the refiner had gained 43.65% over the past month. This has outpaced the Oils-Energy sector's gain of 1.59% and the S&P 500's loss of 3.76% in that time.
PBF Energy will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. On that day, PBF Energy is projected to report earnings of $6.03 per share, which would represent year-over-year growth of 4925%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.54 billion, up 46.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.36 per share and revenue of $42.59 billion. These totals would mark changes of +954.4% and +56.29%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for PBF Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 6.97% higher within the past month. PBF Energy is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, PBF Energy is currently trading at a Forward P/E ratio of 2. Its industry sports an average Forward P/E of 5.52, so we one might conclude that PBF Energy is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 2, putting it in the top 1% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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PBF Energy (PBF) Gains As Market Dips: What You Should Know
PBF Energy (PBF - Free Report) closed the most recent trading day at $43.50, moving +1.99% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the refiner had gained 43.65% over the past month. This has outpaced the Oils-Energy sector's gain of 1.59% and the S&P 500's loss of 3.76% in that time.
PBF Energy will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. On that day, PBF Energy is projected to report earnings of $6.03 per share, which would represent year-over-year growth of 4925%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.54 billion, up 46.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.36 per share and revenue of $42.59 billion. These totals would mark changes of +954.4% and +56.29%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for PBF Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 6.97% higher within the past month. PBF Energy is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, PBF Energy is currently trading at a Forward P/E ratio of 2. Its industry sports an average Forward P/E of 5.52, so we one might conclude that PBF Energy is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 2, putting it in the top 1% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.