New Fortress Energy (NASDAQ:NFE) Announces Quarterly Earnings Results

New Fortress Energy (NASDAQ:NFE) released its earnings results on Wednesday. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07, Briefing.com reports. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The company had revenue of $690.30 million during the quarter, compared to analysts’ expectations of $602.41 million. During the same period last year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis.

New Fortress Energy Stock Up 3.4 %

Shares of NASDAQ:NFE traded up $0.90 during midday trading on Thursday, reaching $27.39. The company had a trading volume of 846,258 shares, compared to its average volume of 1,348,569. The business’s 50 day moving average price is $29.61 and its 200 day moving average price is $32.81. New Fortress Energy has a 1-year low of $25.06 and a 1-year high of $40.04. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 3.66. The stock has a market cap of $5.62 billion, a PE ratio of 10.11 and a beta of 1.56.

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.46%. New Fortress Energy’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus lowered their price objective on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $35.00 price objective (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Finally, Barclays cut their target price on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, New Fortress Energy has an average rating of “Hold” and a consensus price target of $38.29.

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.