New Fortress Energy Inc. (NASDAQ:NFE) to Post Q3 2024 Earnings of $0.12 Per Share, Capital One Financial Forecasts

New Fortress Energy Inc. (NASDAQ:NFE) – Investment analysts at Capital One Financial dropped their Q3 2024 earnings per share (EPS) estimates for shares of New Fortress Energy in a report released on Thursday, August 15th. Capital One Financial analyst W. Suki now anticipates that the company will post earnings per share of $0.12 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.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The company had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. During the same quarter in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was down 23.7% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on NFE. Stifel Nicolaus cut their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Barclays decreased their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and a consensus price target of $29.00.

New Fortress Energy Stock Down 2.0 %

Shares of NASDAQ NFE opened at $12.83 on Monday. 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 market cap of $2.63 billion, a price-to-earnings ratio of 5.83 and a beta of 1.49. New Fortress Energy has a 52-week low of $12.54 and a 52-week high of $40.04. The business’s 50 day moving average is $19.50 and its two-hundred day moving average is $25.64.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, September 13th. New Fortress Energy’s payout ratio is 18.18%.

Institutional Trading of New Fortress Energy

Institutional investors have recently bought and sold shares of the company. American National Bank bought a new position in shares of New Fortress Energy during the 2nd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. increased its holdings in New Fortress Energy by 563.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after purchasing an additional 1,178 shares in the last quarter. Quarry LP increased its holdings in New Fortress Energy by 125.7% during the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in New Fortress Energy during the 1st quarter valued at $95,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in New Fortress Energy during the 4th quarter valued at $119,000. Institutional investors and hedge funds 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.