PBF Energy (PBF) Stock Sinks As Market Gains: What You Should Know
PBF Energy (PBF) closed at $39.78 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 1.1%.
Prior to today's trading, shares of the refiner had gained 7.49% over the past month. This has outpaced the Oils-Energy sector's gain of 5.03% and the S&P 500's loss of 0.01% 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. In that report, analysts expect PBF Energy to post earnings of $4.96 per share. This would mark year-over-year growth of 287.5%. Our most recent consensus estimate is calling for quarterly revenue of $9.93 billion, up 20.47% from the year-ago period.
It is also important to note the recent changes to analyst estimates for PBF Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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 4.37% higher. PBF Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, PBF Energy currently has a Forward P/E ratio of 4.22. Its industry sports an average Forward P/E of 8.36, 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 70, putting it in the top 28% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PBF Energy Inc. (PBF) : Free Stock Analysis Report
