New Fortress Energy (NFE) Scheduled to Post Quarterly Earnings on Thursday

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

New Fortress Energy (NASDAQ:NFE) last released its 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). The business had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. New Fortress Energy’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS. 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 Price Performance

NFE traded up $0.42 on Tuesday, reaching $8.72. 7,693,100 shares of the company’s stock were exchanged, compared to its average volume of 2,854,845. New Fortress Energy has a twelve month low of $7.82 and a twelve month high of $40.04. The stock has a market cap of $1.79 billion, a PE ratio of 7.03 and a beta of 1.53. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. The stock’s fifty day moving average price is $9.94 and its 200-day moving average price is $17.68.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio is currently 33.90%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NFE. Barclays cut their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and set a $7.60 price target (down previously from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. BTIG Research cut their price objective on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, Stifel Nicolaus dropped their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, New Fortress Energy presently has an average rating of “Hold” and a consensus price target of $19.77.

Insider Activity at New Fortress Energy

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

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.