B. Riley Has Pessimistic Outlook of MNTK FY2024 Earnings

Montauk Renewables, Inc. (NASDAQ:MNTK) – Stock analysts at B. Riley lowered their FY2024 earnings per share estimates for Montauk Renewables in a research note issued to investors on Monday, November 4th. B. Riley analyst R. Pfingst now expects that the company will post earnings per share of $0.21 for the year, down from their previous forecast of $0.24. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.20 per share. B. Riley also issued estimates for Montauk Renewables’ Q4 2024 earnings at $0.12 EPS and FY2025 earnings at $0.25 EPS.

Separately, Scotiabank reiterated a “sector perform” rating and issued a $6.00 target price (down previously from $8.00) on shares of Montauk Renewables in a report on Tuesday, September 3rd.

Montauk Renewables Price Performance

Shares of Montauk Renewables stock opened at $5.74 on Wednesday. Montauk Renewables has a twelve month low of $3.38 and a twelve month high of $10.56. The stock has a market capitalization of $824.34 million, a P/E ratio of 44.54 and a beta of -0.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $5.16 and its 200 day moving average price is $5.04.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Montauk Renewables had a net margin of 10.22% and a return on equity of 7.52%. The firm had revenue of $43.34 million during the quarter, compared to analyst estimates of $50.63 million. During the same quarter in the previous year, the business posted $0.01 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of Montauk Renewables by 8.9% during the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock worth $148,000 after purchasing an additional 2,107 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Montauk Renewables by 2.6% during the second quarter. Rhumbline Advisers now owns 92,138 shares of the company’s stock worth $525,000 after purchasing an additional 2,366 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Montauk Renewables by 14.7% during the second quarter. The Manufacturers Life Insurance Company now owns 32,611 shares of the company’s stock worth $186,000 after purchasing an additional 4,176 shares in the last quarter. CWM LLC lifted its stake in shares of Montauk Renewables by 1,425.5% during the second quarter. CWM LLC now owns 4,485 shares of the company’s stock worth $26,000 after purchasing an additional 4,191 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Montauk Renewables by 7.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,993 shares of the company’s stock worth $348,000 after purchasing an additional 4,477 shares in the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

About Montauk Renewables

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.