Capital One Financial Analysts Decrease Earnings Estimates for New Fortress Energy Inc. (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) – Research analysts at Capital One Financial decreased their Q3 2024 earnings per share estimates for shares of New Fortress Energy in a research report issued on Thursday, August 15th. Capital One Financial analyst W. Suki now expects that the company will earn $0.12 per share for the quarter, down from their previous estimate of $0.34. The consensus estimate for New Fortress Energy’s current full-year earnings is $2.03 per share. Capital One Financial also issued estimates for New Fortress Energy’s FY2024 earnings at $0.80 EPS and FY2025 earnings at $1.52 EPS.

A number of other research firms also recently weighed in on NFE. Barclays reduced their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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. Finally, Stifel Nicolaus cut their price target 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. Three investment 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.com, New Fortress Energy has an average rating of “Hold” and an average target price of $29.00.

New Fortress Energy Stock Down 3.3 %

Shares of NFE stock opened at $13.05 on Monday. New Fortress Energy has a 12-month low of $12.63 and a 12-month high of $40.04. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The firm has a fifty day moving average of $19.89 and a 200-day moving average of $25.91. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 5.93 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results 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 business had revenue of $428.00 million during the quarter, compared to analyst estimates of $465.52 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The firm’s revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 3.07%. New Fortress Energy’s payout ratio is currently 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. bought a new stake in shares of New Fortress Energy in the fourth quarter valued at approximately $210,000. Mackenzie Financial Corp bought a new position in shares of New Fortress Energy in the fourth quarter worth $3,021,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in New Fortress Energy by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock valued at $531,000 after purchasing an additional 716 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in New Fortress Energy by 3.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,217 shares of the company’s stock valued at $1,895,000 after purchasing an additional 1,560 shares in the last quarter. Finally, O Brien Greene & Co. Inc grew its stake in New Fortress Energy by 10.4% during the fourth quarter. O Brien Greene & Co. Inc now owns 15,015 shares of the company’s stock worth $567,000 after buying an additional 1,420 shares in the last quarter. Institutional investors 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.