PBF Logistics LP (PBFX) shares soared 10.5% in the last trading session to close at $14.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.7% loss over the past four weeks.
With Russia’s invasion of Ukraine limiting global energy supplies, higher commodity prices are driving inflation and decelerating the economic recovery. However, PBF Logistics LP is least exposed to the commodity price fluctuations as the partnership’s operations demonstrate stable cash flows backed by long-term, take-or-pay contracts.
This company is expected to post quarterly earnings of $0.53 per share in its upcoming report, which represents a year-over-year change of -10.2%. Revenues are expected to be $85.14 million, down 5.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PBF Logistics LP, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PBFX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PBF Logistics LP is part of the Zacks Oil and Gas - Production Pipeline - MLB industry. Energy Transfer LP (ET), another stock in the same industry, closed the last trading session 3.2% higher at $10.10. ET has returned -15.4% in the past month.
Energy Transfer LP's consensus EPS estimate for the upcoming report has changed -7.3% over the past month to $0.27. Compared to the company's year-ago EPS, this represents a change of +35%. Energy Transfer LP currently boasts a Zacks Rank of #3 (Hold).
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