Time New York: Wed 22 Nov 04:15 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Surging Earnings Estimates Signal Good News for PBF Energy (PBF)

Zacks

PBF Energy Inc. PBF engages in the refining and supply of petroleum products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PBF’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that PBF Energy could be a solid choice for investors.

Current Quarter Estimates for PBF

In the past 30 days, three estimates have gone higher for PBF Energy while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 71 cents a share 30 days ago, to $1.01 today, a move of 42.3%.

Current Year Estimates for PBF

Meanwhile, PBF Energy current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to two lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 55 cents per share 30 days ago to 92 cents per share today, an increase of 67.3%.

PBF Energy Inc. Price and Consensus


PBF Energy Inc. Price and Consensus
| PBF Energy Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 20.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>


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

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.