New Fortress Energy (NASDAQ:NFE) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

New Fortress Energy (NASDAQ:NFE) posted its quarterly earnings results on Monday. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07, Zacks reports. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%.

New Fortress Energy Stock Down 9.6 %

Shares of NASDAQ:NFE traded down $0.96 during midday trading on Monday, hitting $9.04. The stock had a trading volume of 7,881,875 shares, compared to its average volume of 4,318,395. The company has a market cap of $2.46 billion, a P/E ratio of 9.93 and a beta of 1.49. New Fortress Energy has a 12 month low of $7.82 and a 12 month high of $34.40. The business’s 50-day simple moving average is $13.86 and its 200-day simple moving average is $11.66. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NFE shares. Stifel Nicolaus lifted their price objective on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.40.

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.