FY2024 EPS Estimates for New Fortress Energy Inc. Raised by Capital One Financial (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) – Stock analysts at Capital One Financial increased their FY2024 earnings per share (EPS) estimates for shares of New Fortress Energy in a research report issued to clients and investors on Thursday, October 10th. Capital One Financial analyst W. Suki now forecasts that the company will earn $0.67 per share for the year, up from their previous forecast of $0.45. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.41 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.28 EPS and FY2025 earnings at $1.06 EPS.

Several other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a $7.60 price target (down previously from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. BTIG Research cut their target price 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. Barclays cut their price objective on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. One equities 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.77.

New Fortress Energy Stock Down 5.1 %

NASDAQ:NFE opened at $9.16 on Monday. New Fortress Energy has a 1-year low of $8.20 and a 1-year high of $40.04. 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 firm’s 50-day moving average price is $11.49 and its 200-day moving average price is $19.85. The company has a market capitalization of $1.88 billion, a PE ratio of 4.16 and a beta of 1.51.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). The company had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share.

Institutional Trading of New Fortress Energy

Several hedge funds have recently made changes to their positions in NFE. American National Bank bought a new position in New Fortress Energy in the 2nd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of New Fortress Energy by 563.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after buying an additional 1,178 shares during the last quarter. Quarry LP raised its holdings in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after buying an additional 1,253 shares during the last quarter. ORG Partners LLC raised its holdings in shares of New Fortress Energy by 987.8% in the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 3,408 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of New Fortress Energy during the first quarter worth $95,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

New Fortress Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s payout ratio is currently 18.18%.

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.