New Fortress Energy (NFE) Set to Announce Quarterly Earnings on Thursday

New Fortress Energy (NASDAQ:NFE) will be issuing its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.01 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The business had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. During the same quarter last year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. On average, analysts expect New Fortress Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

New Fortress Energy Stock Up 7.3 %

New Fortress Energy stock opened at $8.91 on Wednesday. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. New Fortress Energy has a 1-year low of $7.82 and a 1-year high of $40.04. The company has a market cap of $1.83 billion, a PE ratio of 7.55 and a beta of 1.53. The stock’s 50 day moving average price is $9.86 and its 200 day moving average price is $17.55.

New Fortress Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.10 per share. The ex-dividend date was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.49%. New Fortress Energy’s payout ratio is 33.90%.

Analyst Ratings Changes

NFE has been the topic of a number of research analyst reports. Barclays decreased their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and set a $7.60 target price (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. BTIG Research decreased their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus decreased their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy currently has an average rating of “Hold” and an average price target of $19.77.

Insider Activity

In related news, CEO Wesley R. Edens acquired 5,793,742 shares of New Fortress Energy stock in a transaction dated Tuesday, October 1st. The shares were acquired at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of 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 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 37.10% of the company’s stock.

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.