New Fortress Energy Inc. (NASDAQ:NFE – Free Report) recently had its FY2024 earnings estimates raised by Capital One Financial. Analyst W. Suki now expects the company to earn $0.67 per share, up from $0.45. The consensus estimate is currently $0.41 per share. For Q4 2024, the estimate is $0.28 EPS, while FY2025 earnings are projected at $1.06 EPS.
Several research firms have also recently adjusted their price targets for NFE. Stifel Nicolaus cut their target from $40 to $17 and maintained a “buy” rating. BTIG Research lowered their target from $35 to $15, also with a “buy” rating. Morgan Stanley and Barclays both reduced their targets to $15 and $19, respectively. Deutsche Bank cut their target from $21 to $7.60, maintaining a “sell” rating. Overall, NFE has an average rating of “Hold” with a target price of $19.77, according to MarketBeat.com.
Get Our Latest Stock Report on NFE
New Fortress Energy Stock Up 0.6%
NFE shares opened at $9.36 on Monday, with a debt-to-equity ratio of 4.38 and a market cap of $1.92 billion. The stock has a 52-week range of $8.20 to $40.04, and its 50-day moving average is $11.62.
In its last earnings report on August 9, NFE reported a loss of $0.41 EPS against an expected $0.09, with revenues of $428 million versus an estimate of $465.52 million. This was a 23.7% revenue decline compared to last year’s quarter.
Institutional Investors
Recent changes in institutional ownership include Creative Planning acquiring a stake worth $214,000. Other firms like Exchange Traded Concepts LLC and Quarry LP increased their holdings significantly. Currently, institutional investors own 58.61% of NFE.
Insider Activity
CEO Wesley R. Edens recently bought 5.79 million shares at $8.63 each, totaling nearly $50 million, raising his ownership to over 35.7 million shares.
Dividend Announcement
NFE declared a quarterly dividend of $0.10, paid on September 27, resulting in an annualized yield of 4.27%.
About New Fortress Energy
New Fortress Energy Inc. focuses on gas-to-power infrastructure services worldwide, operating in gas procurement, liquefaction, and power generation.
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