New Fortress Energy (NASDAQ:NFE – Get Free Report) issued its quarterly earnings results on Friday. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50), Briefing.com reports. The business had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The business’s revenue was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 earnings per share.
New Fortress Energy Trading Down 23.6 %
NASDAQ NFE opened at $13.00 on Friday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 5.91 and a beta of 1.49. The business’s fifty day moving average is $20.93 and its 200-day moving average is $26.71. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. New Fortress Energy has a one year low of $12.63 and a one year high of $40.04.
New Fortress Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.10 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 3.08%. New Fortress Energy’s dividend payout ratio is currently 18.18%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on NFE shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of New Fortress Energy from $33.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Barclays decreased their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.20.
Check Out Our Latest Research Report on NFE
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.
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