Q1 2024 EPS Estimates for New Fortress Energy Inc. (NASDAQ:NFE) Decreased by Capital One Financial

New Fortress Energy Inc. (NASDAQ:NFE) – Equities research analysts at Capital One Financial reduced their Q1 2024 earnings per share estimates for shares of New Fortress Energy in a research report issued on Monday, April 29th. Capital One Financial analyst W. Suki now anticipates that the company will post earnings per share of $0.67 for the quarter, down from their prior estimate of $0.88. 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 Q2 2024 earnings at $0.46 EPS, FY2024 earnings at $2.76 EPS and FY2025 earnings at $3.47 EPS.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus reduced their price objective on 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Hold” and a consensus target price of $39.29.

New Fortress Energy Trading Down 1.5 %

Shares of NASDAQ:NFE opened at $25.82 on Thursday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.74 and a beta of 1.56. New Fortress Energy has a 1-year low of $25.06 and a 1-year high of $40.04. The company has a 50 day moving average price of $30.15 and a 200 day moving average price of $33.05. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.51 and a current ratio of 0.57.

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

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, March 14th. New Fortress Energy’s payout ratio is presently 15.09%.

Institutional Trading of New Fortress Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capstone Investment Advisors LLC bought a new stake in shares of New Fortress Energy during the 1st quarter worth $468,000. Kailix Advisors LLC grew its position in shares of New Fortress Energy by 83.6% in the first quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock valued at $60,246,000 after purchasing an additional 896,671 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of 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 during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of New Fortress Energy by 151.4% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 176,000 shares of the company’s stock worth $5,384,000 after purchasing an additional 106,000 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in New Fortress Energy by 1.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock valued at $1,828,000 after purchasing an additional 888 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

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.