PBF Logistics LP (PBFX) Releases Earnings Results, Beats Expectations By $0.08 EPS

PBF Logistics LP (PBFX) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.53 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.45. The company posted revenue of $36.55 million in the period, compared to analysts expectations of $35.93 million. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on PBF Logistics LP. PBF Logistics LP was Initiated by Raymond James to “Outperform” on Apr 21, 2016. Shares were Reiterated by Barclays on Feb 12, 2016 to “Equal Weight” and Lowered the Price Target to $ 21 from a previous price target of $22 .

PBF Logistics LP opened for trading at $19.88 and hit $20.45 on the upside on Wednesday, eventually ending the session at $20.15, with a gain of 1.77% or 0.35 points. The heightened volatility saw the trading volume jump to 99,857 shares. Company has a market cap of $693 M.

In a different news, on Aug 27, 2015, Bruce A. Jones (director) purchased 260 shares at $19.70 per share price.

PBF Logistics LP is engaged in the receiving handling and transferring of crude oil and the receipt storage and delivery of crude oil refined products and intermediates. The Company was formed by PBF Energy Inc. (PBF Energy) and its indirect subsidiary PBF Logistics GP LLC to own or lease operate develop and acquire crude oil and refined petroleum products terminals pipelines storage facilities and similar logistics assets. The Company receives handles and transfers crude oil from sources located throughout the United States and Canada and store crude oil refined products and intermediates for PBF Energy in support of its three refineries located in Toledo Ohio Delaware City Delaware and Paulsboro New Jersey. Its assets consist of the DCR Rail Terminal Toledo Truck Terminal the DCR West Rack and the Toledo Storage Facility. The Company’s business consists of two operating segments: terminaling segment and storage segment.

PBF Logistics LP

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