New Fortress Energy Inc. (NASDAQ:NFE) to Post FY2024 Earnings of $0.72 Per Share, Capital One Financial Forecasts

New Fortress Energy Inc. (NASDAQ:NFE) – Investment analysts at Capital One Financial dropped their FY2024 earnings estimates for shares of New Fortress Energy in a report released on Thursday, September 19th. Capital One Financial analyst W. Suki now anticipates that the company will earn $0.72 per share for the year, down from their prior forecast of $0.80. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.58 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.34 EPS and FY2025 earnings at $1.45 EPS.

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

Several other research analysts also recently issued reports on the stock. BTIG Research dropped their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Barclays decreased their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Finally, Stifel Nicolaus dropped their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.40.

New Fortress Energy Trading Down 10.5 %

NASDAQ:NFE opened at $9.49 on Monday. The firm has a market capitalization of $1.95 billion, a P/E ratio of 4.31 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. New Fortress Energy has a one year low of $9.39 and a one year high of $40.04. The company’s 50-day simple moving average is $15.22 and its 200 day simple moving average is $22.29.

New Fortress Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 4.21%. New Fortress Energy’s payout ratio is 18.18%.

Institutional Trading of New Fortress Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American National Bank bought a new position in New Fortress Energy during the second quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of New Fortress Energy by 563.6% in the 1st 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 in the last quarter. Quarry LP increased its holdings in shares of New Fortress Energy by 125.7% in the 2nd 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 position in shares of New Fortress Energy by 987.8% during the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after buying an additional 3,408 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of New Fortress Energy in the 1st quarter valued at about $95,000. Institutional investors 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.