Capital One Financial Comments on New Fortress Energy Inc.’s FY2024 Earnings (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) – Analysts at Capital One Financial decreased their FY2024 earnings estimates for shares of New Fortress Energy in a report issued on Wednesday, October 2nd. Capital One Financial analyst W. Suki now expects that the company will earn $0.45 per share for the year, down from their previous estimate of $0.72. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.54 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.08 EPS and FY2025 earnings at $0.91 EPS.

Other equities research analysts also recently issued reports about the company. BTIG Research decreased their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a $7.60 price objective (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday. Stifel Nicolaus reduced their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Barclays lowered their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $15.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.77.

New Fortress Energy Trading Up 11.7 %

NASDAQ:NFE opened at $10.09 on Friday. The company has a market capitalization of $2.07 billion, a PE ratio of 4.59 and a beta of 1.52. New Fortress Energy has a 52-week low of $8.20 and a 52-week high of $40.04. The stock’s 50 day moving average price is $12.60 and its 200 day moving average price is $20.85. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. During the same period in the previous year, the business posted $0.58 EPS. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Insider Activity

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the purchase, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 37.10% of the company’s stock.

Institutional Trading of New Fortress Energy

A number of institutional investors have recently added to or reduced their stakes in NFE. American National Bank acquired a new stake in New Fortress Energy during the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. raised its position in shares of New Fortress Energy by 563.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after purchasing an additional 1,178 shares during the period. Quarry LP lifted its holdings in shares of New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares during the last quarter. ORG Partners LLC lifted its stake in New Fortress Energy by 987.8% during the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after buying an additional 3,408 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of New Fortress Energy in the first quarter worth about $95,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

About New Fortress Energy

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.