Equities Analysts Offer Predictions for MNTK FY2024 Earnings

Montauk Renewables, Inc. (NASDAQ:MNTK) – Analysts at Scotiabank raised their FY2024 EPS estimates for shares of Montauk Renewables in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now forecasts that the company will post earnings of $0.17 per share for the year, up from their prior estimate of $0.16. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.19 per share.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $4.12 on Monday. The company has a market capitalization of $590.68 million, a P/E ratio of 25.75 and a beta of -0.26. The business has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $4.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. Montauk Renewables has a 1 year low of $3.38 and a 1 year high of $8.23.

Hedge Funds Weigh In On Montauk Renewables

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Montauk Renewables by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,636,368 shares of the company’s stock valued at $8,527,000 after buying an additional 9,203 shares in the last quarter. State Street Corp raised its holdings in Montauk Renewables by 1.6% during the 3rd quarter. State Street Corp now owns 1,613,351 shares of the company’s stock valued at $8,406,000 after acquiring an additional 25,732 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Montauk Renewables by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 702,914 shares of the company’s stock worth $4,007,000 after acquiring an additional 10,711 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Montauk Renewables by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 263,278 shares of the company’s stock worth $1,501,000 after acquiring an additional 7,558 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Montauk Renewables by 237.4% in the third quarter. JPMorgan Chase & Co. now owns 173,483 shares of the company’s stock valued at $904,000 after purchasing an additional 122,072 shares in the last quarter. Hedge funds and other institutional investors own 16.35% of the company’s stock.

Montauk Renewables Company Profile

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.