Capital One Financial Comments on New Fortress Energy Inc.’s Q3 2024 Earnings (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) – Equities research analysts at Capital One Financial decreased their Q3 2024 EPS estimates for New Fortress Energy in a research note issued on Wednesday, October 2nd. Capital One Financial analyst W. Suki now expects that the company will post earnings per share of $0.11 for the quarter, down from their prior estimate of $0.12. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.54 per share.

A number of other research firms have also commented on NFE. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday. Barclays dropped their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. 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 report on Monday, August 12th. Finally, BTIG Research decreased 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.72.

New Fortress Energy Stock Down 7.6 %

NFE stock opened at $8.94 on Thursday. The firm has a market capitalization of $1.83 billion, a PE ratio of 4.12 and a beta of 1.52. 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 has a twelve month low of $8.20 and a twelve month high of $40.04. The stock’s 50 day moving average is $13.26 and its 200-day moving average is $21.16.

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

New Fortress Energy Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s payout ratio is 18.18%.

Hedge Funds Weigh In On New Fortress Energy

Institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its stake in New Fortress Energy by 73.9% in the second quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock valued at $176,414,000 after acquiring an additional 3,410,630 shares during the last quarter. William Blair Investment Management LLC grew its holdings in New Fortress Energy by 31.0% during the first quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after purchasing an additional 2,111,360 shares during the period. M&G Plc purchased a new stake in New Fortress Energy in the first quarter worth $51,569,000. Capital World Investors raised its stake in shares of New Fortress Energy by 8.3% in the fourth quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock valued at $564,615,000 after buying an additional 1,152,125 shares during the period. Finally, Kailix Advisors LLC lifted its position in shares of 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 buying an additional 896,671 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

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.