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

New Fortress Energy Inc. (NASDAQ:NFE) – Research analysts at Capital One Financial decreased their FY2024 EPS estimates for shares of New Fortress Energy in a research note issued on Thursday, September 19th. Capital One Financial analyst W. Suki now expects that the company will post earnings of $0.72 per share for the year, down from their prior estimate of $0.80. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.58 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.34 EPS and FY2025 earnings at $1.45 EPS.

Several other research analysts have also commented on NFE. BTIG Research dropped their price objective 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. Barclays lowered their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Stifel Nicolaus cut their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, New Fortress Energy currently has a consensus rating of “Hold” and a consensus target price of $23.40.

New Fortress Energy Stock Up 4.3 %

Shares of NASDAQ NFE opened at $9.90 on Monday. The firm’s 50-day moving average price is $14.99 and its 200-day moving average price is $22.12. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. New Fortress Energy has a 12-month low of $9.17 and a 12-month high of $40.04. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 4.50 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last released 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). The firm had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The business’s revenue was down 23.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS.

New Fortress Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.04%. New Fortress Energy’s dividend payout ratio (DPR) is 18.18%.

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. American National Bank purchased a new stake in shares of New Fortress Energy during the 2nd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. boosted its holdings in New Fortress Energy by 563.6% in 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. Quarry LP lifted its holdings in New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after acquiring an additional 1,253 shares during the last quarter. ORG Partners LLC grew its holdings in shares of New Fortress Energy by 987.8% during the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after purchasing an additional 3,408 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in New Fortress Energy during the first quarter worth about $95,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

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.