FY2024 EPS Estimates for New Fortress Energy Inc. (NASDAQ:NFE) Lifted by Capital One Financial

New Fortress Energy Inc. (NASDAQ:NFE) – Equities researchers at Capital One Financial increased their FY2024 EPS estimates for New Fortress Energy in a research note issued on Thursday, October 10th. Capital One Financial analyst W. Suki now anticipates that the company will earn $0.67 per share for the year, up from their previous forecast of $0.45. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.41 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.28 EPS and FY2025 earnings at $1.06 EPS.

Several other brokerages have also recently commented on NFE. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Barclays reduced their price objective on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a $7.60 price target (down previously from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. Finally, BTIG Research cut their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy presently has an average rating of “Hold” and a consensus price target of $19.77.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $9.65 on Monday. The company’s 50 day moving average is $11.62 and its 200-day moving average is $19.99. New Fortress Energy has a 12-month low of $8.20 and a 12-month high of $40.04. The company has a quick ratio of 0.63, a current ratio of 0.72 and a debt-to-equity ratio of 4.38. The firm has a market cap of $1.98 billion, a P/E ratio of 4.35 and a beta of 1.51.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. During the same quarter last year, the business posted $0.58 EPS. The business’s quarterly revenue was down 23.7% on a year-over-year basis.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 4.15%. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Insiders Place Their Bets

In other New Fortress Energy news, CEO Wesley R. Edens bought 5,793,742 shares of New Fortress Energy stock in a transaction dated 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 transaction, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.10% of the company’s stock.

Institutional Trading of New Fortress Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. purchased a new stake in New Fortress Energy during the 4th quarter valued at about $4,207,000. Kapitalo Investimentos Ltda purchased a new stake in New Fortress Energy during the 4th quarter valued at about $119,000. Maryland State Retirement & Pension System grew its position in New Fortress Energy by 1.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock valued at $1,828,000 after purchasing an additional 888 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in New Fortress Energy by 563.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after purchasing an additional 1,178 shares during the last quarter. Finally, Kailix Advisors LLC grew its position in New Fortress Energy by 83.6% during the 1st quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock valued at $60,246,000 after purchasing an additional 896,671 shares during the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Company Profile

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.