New Fortress Energy Inc. (NASDAQ:NFE) Forecasted to Earn Q4 2024 Earnings of $0.41 Per Share

New Fortress Energy Inc. (NASDAQ:NFE) – Investment analysts at Capital One Financial decreased their Q4 2024 EPS estimates for New Fortress Energy in a research note issued to investors on Friday, August 9th. Capital One Financial analyst W. Suki now anticipates that the company will earn $0.41 per share for the quarter, down from their prior estimate of $0.53. The consensus estimate for New Fortress Energy’s current full-year earnings is $2.03 per share. Capital One Financial also issued estimates for New Fortress Energy’s FY2025 earnings at $2.40 EPS.

NFE has been the subject of several other research reports. Barclays cut their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday. Finally, Stifel Nicolaus lowered their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $29.00.

New Fortress Energy Stock Down 7.2 %

New Fortress Energy stock opened at $13.10 on Monday. New Fortress Energy has a 12 month low of $12.63 and a 12 month high of $40.04. The stock has a market capitalization of $2.69 billion, a PE ratio of 5.95 and a beta of 1.49. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. The business has a 50 day simple moving average of $20.71 and a 200-day simple moving average of $26.48.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The business had revenue of $428.00 million during the quarter, compared to analyst estimates of $465.52 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently bought and sold shares of NFE. Capital World Investors raised its stake in New Fortress Energy by 1.5% during the first quarter. Capital World Investors now owns 15,182,319 shares of the company’s stock worth $464,427,000 after purchasing an additional 217,697 shares during the period. William Blair Investment Management LLC raised its position in shares of New Fortress Energy by 7.1% during the 2nd quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock valued at $209,896,000 after buying an additional 633,170 shares during the period. Primecap Management Co. CA lifted its holdings in New Fortress Energy by 73.9% in the second quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock valued at $176,414,000 after acquiring an additional 3,410,630 shares during the last quarter. M&G Plc grew its position in New Fortress Energy by 52.6% in the second quarter. M&G Plc now owns 2,537,712 shares of the company’s stock worth $55,830,000 after acquiring an additional 874,210 shares during the period. Finally, Kailix Advisors LLC increased its stake in New Fortress Energy by 11.9% during the second quarter. Kailix Advisors LLC now owns 2,203,824 shares of the company’s stock worth $50,622,000 after acquiring an additional 234,371 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a yield of 3.05%. New Fortress Energy’s payout ratio is presently 18.18%.

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.