Capital One Financial Weighs in on New Fortress Energy Inc.’s Q1 2024 Earnings (NASDAQ:NFE)

New Fortress Energy Inc. (NASDAQ:NFE) – Investment analysts at Capital One Financial reduced their Q1 2024 earnings per share (EPS) estimates for shares of New Fortress Energy in a report released on Monday, April 29th. Capital One Financial analyst W. Suki now forecasts that the company will earn $0.67 per share for the quarter, down from their previous forecast 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.

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 the consensus estimate of $0.93 by $0.08. The company had revenue of $758.60 million for the quarter, compared to analysts’ expectations of $647.54 million. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS.

Several other brokerages have also recently issued reports on NFE. 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 report on Friday, March 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.29.

New Fortress Energy Price Performance

NFE stock opened at $25.82 on Thursday. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 9.74 and a beta of 1.56. 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 50 day moving average of $30.15 and a 200-day moving average of $33.05. New Fortress Energy has a 12-month low of $25.06 and a 12-month high of $40.04.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in New Fortress Energy by 57.1% in the 3rd quarter. CWM LLC now owns 2,129 shares of the company’s stock valued at $70,000 after buying an additional 774 shares during the period. Commonwealth Equity Services LLC raised its stake in New Fortress Energy by 28.0% during the third quarter. Commonwealth Equity Services LLC now owns 23,294 shares of the company’s stock worth $764,000 after purchasing an additional 5,100 shares during the period. Xponance Inc. boosted its holdings in shares of New Fortress Energy by 13.8% in the 3rd quarter. Xponance Inc. now owns 8,841 shares of the company’s stock valued at $290,000 after purchasing an additional 1,070 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of New Fortress Energy by 9.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 58,141 shares of the company’s stock valued at $1,906,000 after buying an additional 5,246 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of New Fortress Energy by 69.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 301,329 shares of the company’s stock worth $9,878,000 after buying an additional 123,815 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Announces Dividend

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