New Fortress Energy Inc. (NASDAQ:NFE – Free Report) – 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 – Get Free Report) 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.
Read Our Latest Analysis on New Fortress Energy
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.
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