NFE FY2024 EPS Estimate Lowered by Capital One Financial

New Fortress Energy Inc. (NASDAQ:NFE) – Investment analysts at Capital One Financial dropped their FY2024 EPS estimates for shares of New Fortress Energy in a research note issued to investors on Tuesday, December 17th. Capital One Financial analyst W. Suki now expects that the company will earn $0.40 per share for the year, down from their previous estimate of $0.59. The consensus estimate for New Fortress Energy’s current full-year earnings is $0.45 per share. Capital One Financial also issued estimates for New Fortress Energy’s Q4 2024 earnings at $0.09 EPS and FY2025 earnings at $0.82 EPS.

Several other brokerages also recently weighed in on NFE. BTIG Research dropped their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research note on Wednesday, December 4th. Finally, Morgan Stanley cut New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.33.

New Fortress Energy Price Performance

Shares of NASDAQ NFE traded down $0.05 during midday trading on Thursday, reaching $11.49. The stock had a trading volume of 182,605 shares, compared to its average volume of 3,187,939. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 12.63 and a beta of 1.60. New Fortress Energy has a 12-month low of $7.82 and a 12-month high of $39.26. The stock has a 50-day moving average of $9.94 and a 200-day moving average of $14.17. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

Insider Buying and Selling

In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the transaction, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. The trade was a 19.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 37.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFE. nVerses Capital LLC acquired a new stake in New Fortress Energy in the 3rd quarter worth approximately $25,000. American National Bank purchased a new stake in New Fortress Energy during the 2nd quarter valued at about $26,000. KBC Group NV increased its holdings in shares of New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE raised its stake in shares of New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after purchasing an additional 2,767 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of New Fortress Energy by 409.1% during the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after purchasing an additional 3,314 shares during the period. Hedge funds and other institutional investors 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.