FY2024 EPS Estimate for Montauk Renewables Raised by Analyst

Montauk Renewables, Inc. (NASDAQ:MNTK) – Scotiabank boosted their FY2024 earnings per share estimates for Montauk Renewables in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now forecasts that the company will post earnings per share of $0.17 for the year, up from their prior estimate of $0.16. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.19 per share.

Montauk Renewables Price Performance

Shares of NASDAQ:MNTK opened at $4.12 on Monday. Montauk Renewables has a twelve month low of $3.38 and a twelve month high of $8.23. The stock’s 50 day moving average is $4.33 and its 200-day moving average is $4.86. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $590.68 million, a price-to-earnings ratio of 25.75 and a beta of -0.26.

Hedge Funds Weigh In On Montauk Renewables

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Montauk Renewables by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,636,368 shares of the company’s stock valued at $8,527,000 after purchasing an additional 9,203 shares in the last quarter. State Street Corp lifted its stake in Montauk Renewables by 1.6% during the 3rd quarter. State Street Corp now owns 1,613,351 shares of the company’s stock valued at $8,406,000 after acquiring an additional 25,732 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Montauk Renewables by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 702,914 shares of the company’s stock worth $4,007,000 after acquiring an additional 10,711 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Montauk Renewables by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 263,278 shares of the company’s stock worth $1,501,000 after acquiring an additional 7,558 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Montauk Renewables by 237.4% in the third quarter. JPMorgan Chase & Co. now owns 173,483 shares of the company’s stock valued at $904,000 after purchasing an additional 122,072 shares during the last quarter. Institutional investors own 16.35% of the company’s stock.

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.