Equities Analysts Offer Predictions for MNTK FY2024 Earnings

Montauk Renewables, Inc. (NASDAQ:MNTK) – Equities research analysts at B. Riley reduced their FY2024 earnings per share estimates for Montauk Renewables in a report issued on Monday, November 4th. B. Riley analyst R. Pfingst now expects that the company will post earnings per share of $0.21 for the year, down from their previous estimate of $0.24. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.20 per share. B. Riley also issued estimates for Montauk Renewables’ Q4 2024 earnings at $0.12 EPS and FY2025 earnings at $0.25 EPS.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The company had revenue of $43.34 million for the quarter, compared to analysts’ expectations of $50.63 million. Montauk Renewables had a return on equity of 7.52% and a net margin of 10.22%. During the same period last year, the business posted $0.01 earnings per share.

Separately, Scotiabank restated a “sector perform” rating and set a $6.00 price target (down previously from $8.00) on shares of Montauk Renewables in a research note on Tuesday, September 3rd.

Montauk Renewables Trading Up 3.2 %

MNTK opened at $5.79 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $5.10 and its two-hundred day moving average is $5.02. The company has a market capitalization of $831.50 million, a P/E ratio of 44.54 and a beta of -0.21. Montauk Renewables has a 52 week low of $3.38 and a 52 week high of $10.86.

Institutional Investors Weigh In On Montauk Renewables

Hedge funds have recently made changes to their positions in the stock. CWM LLC raised its holdings in Montauk Renewables by 1,425.5% in the second quarter. CWM LLC now owns 4,485 shares of the company’s stock worth $26,000 after purchasing an additional 4,191 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in Montauk Renewables during the third quarter valued at approximately $73,000. SG Americas Securities LLC acquired a new stake in Montauk Renewables in the third quarter valued at approximately $114,000. Principal Financial Group Inc. grew its holdings in Montauk Renewables by 8.9% in the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock worth $148,000 after purchasing an additional 2,107 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Montauk Renewables by 284.3% during the 1st quarter. Quadrature Capital Ltd now owns 42,600 shares of the company’s stock valued at $177,000 after purchasing an additional 31,514 shares during the last quarter. 16.35% of the stock is currently owned by hedge funds and other institutional investors.

Montauk Renewables Company Profile

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.