New Fortress Energy Inc. (NASDAQ:NFE) to Post Q3 2024 Earnings of $0.82 Per Share, Capital One Financial Forecasts

New Fortress Energy Inc. (NASDAQ:NFE) – Equities research analysts at Capital One Financial decreased their Q3 2024 earnings per share (EPS) estimates for shares of New Fortress Energy in a note issued to investors 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 previous 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 earnings results on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. During the same period last year, the company earned $0.87 EPS. New Fortress Energy’s revenue for the quarter was up 38.8% compared to the same quarter last year.

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

New Fortress Energy Stock Performance

NFE stock opened at $25.82 on Wednesday. The stock has a 50-day moving average price of $30.15 and a 200-day moving average price of $33.05. New Fortress Energy has a 1-year low of $25.06 and a 1-year high of $40.04. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 3.66. The firm has a market cap of $5.29 billion, a PE ratio of 9.74 and a beta of 1.53.

New Fortress Energy Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NFE. Capital World Investors lifted its holdings in New Fortress Energy by 8.3% in the fourth quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after buying an additional 1,152,125 shares during the period. Vanguard Group Inc. grew its position in shares of New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after acquiring an additional 2,482,627 shares during the period. William Blair Investment Management LLC grew its position in shares of New Fortress Energy by 12.0% during the 3rd quarter. William Blair Investment Management LLC now owns 6,275,847 shares of the company’s stock valued at $205,722,000 after acquiring an additional 674,685 shares during the period. Federated Hermes Inc. grew its position in shares of New Fortress Energy by 10.8% during the 3rd quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock valued at $144,288,000 after acquiring an additional 427,300 shares during the period. Finally, Primecap Management Co. CA grew its position in shares of New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after acquiring an additional 2,911,800 shares during the period. 58.61% of the stock is owned by institutional investors.

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.