Q3 2024 Earnings Estimate for New Fortress Energy Inc. (NASDAQ:NFE) Issued By Capital One Financial

New Fortress Energy Inc. (NASDAQ:NFE) – Stock analysts at Capital One Financial lowered their Q3 2024 earnings estimates for New Fortress Energy in a report issued on Monday, April 29th. Capital One Financial analyst W. Suki now anticipates that the company will post earnings per share of $0.82 for the quarter, down from their prior forecast of $0.85. The consensus estimate for New Fortress Energy’s current full-year earnings is $3.50 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.80 EPS.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The business had revenue of $758.60 million for the quarter, compared to analysts’ expectations of $647.54 million. During the same quarter last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year.

NFE has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $35.00 price target (down from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th. Stifel Nicolaus reduced their target price on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.29.

New Fortress Energy Price Performance

Shares of NASDAQ NFE opened at $26.20 on Wednesday. The company has a market capitalization of $5.37 billion, a PE ratio of 9.89 and a beta of 1.53. 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’s 50 day moving average price is $30.28 and its 200-day moving average price is $33.10. New Fortress Energy has a twelve month low of $25.06 and a twelve month high of $40.04.

Institutional Investors Weigh In On New Fortress Energy

A number of large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $3,021,000. Citigroup Inc. raised its position in New Fortress Energy by 9.7% in the 3rd quarter. Citigroup Inc. now owns 12,341 shares of the company’s stock worth $405,000 after purchasing an additional 1,092 shares during the period. Vanguard Group Inc. lifted its stake in New Fortress Energy by 41.4% in the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after purchasing an additional 2,482,627 shares during the last quarter. Callodine Capital Management LP boosted its position in New Fortress Energy by 40.5% during the third quarter. Callodine Capital Management LP now owns 316,120 shares of the company’s stock valued at $10,362,000 after buying an additional 91,120 shares during the period. Finally, Crestwood Advisors Group LLC bought a new position in shares of New Fortress Energy during the third quarter valued at about $1,147,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s dividend payout ratio (DPR) is currently 15.09%.

New Fortress Energy Company Profile

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.