New Fortress Energy Inc. (NASDAQ:NFE – Free Report) – Stock analysts at Capital One Financial lowered their FY2024 earnings per share estimates for shares of New Fortress Energy in a report released on Wednesday, October 2nd. Capital One Financial analyst W. Suki now anticipates that the company will earn $0.45 per share for the year, down from their previous forecast of $0.72. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.54 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.08 EPS and FY2025 earnings at $0.91 EPS.
New Fortress Energy (NASDAQ:NFE – Get Free Report) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The firm 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 18.80% and a net margin of 10.19%. The company’s quarterly revenue was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS.
Get Our Latest Stock Report on New Fortress Energy
New Fortress Energy Stock Up 11.7 %
New Fortress Energy stock opened at $10.09 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. New Fortress Energy has a 1-year low of $8.20 and a 1-year high of $40.04. The firm’s fifty day simple moving average is $12.60 and its 200-day simple moving average is $20.79. The company has a market capitalization of $2.07 billion, a P/E ratio of 4.59 and a beta of 1.51.
New Fortress Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 3.96%. New Fortress Energy’s payout ratio is 18.18%.
Insider Transactions at New Fortress Energy
In related news, CEO Wesley R. Edens acquired 5,793,742 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the completion of the transaction, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. American National Bank bought a new stake in New Fortress Energy in the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. raised its position in New Fortress Energy by 563.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after purchasing an additional 1,178 shares in the last quarter. Quarry LP lifted its stake in New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 shares during the period. Meeder Asset Management Inc. acquired a new stake in New Fortress Energy during the first quarter valued at approximately $95,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in New Fortress Energy during the fourth quarter valued at approximately $119,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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