New Fortress Energy (NFE) Set to Announce Earnings on Thursday

New Fortress Energy (NASDAQ:NFE) will issue its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.01 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly 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). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The firm’s revenue was down 23.7% compared to the same quarter last year. On average, analysts expect New Fortress Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

New Fortress Energy Stock Up 5.1 %

Shares of NASDAQ:NFE traded up $0.42 during trading hours on Tuesday, reaching $8.72. The stock had a trading volume of 7,693,100 shares, compared to its average volume of 2,854,845. New Fortress Energy has a 1 year low of $7.82 and a 1 year high of $40.04. The firm’s 50 day moving average is $9.94 and its 200-day moving average is $17.68. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 7.03 and a beta of 1.53. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72.

New Fortress Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is presently 33.90%.

Wall Street Analysts Forecast Growth

NFE has been the subject of several analyst reports. Morgan Stanley cut New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. BTIG Research lowered their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Barclays cut their price objective on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. 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 note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.77.

Insider Transactions at New Fortress Energy

In related news, CEO Wesley R. Edens bought 5,793,742 shares of the stock in a transaction on Tuesday, October 1st. The shares were purchased at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now owns 35,721,915 shares in the company, valued at $308,280,126.45. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Company Profile

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.