New Fortress Energy Inc. (NASDAQ:NFE – Get Free Report)’s share price was down 7.2% on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $33.00 to $26.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. New Fortress Energy traded as low as $23.72 and last traded at $23.80. Approximately 867,867 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,693,862 shares. The stock had previously closed at $25.64.
A number of other research analysts also recently weighed in on NFE. Barclays lowered their price target on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.
View Our Latest Stock Analysis on NFE
Institutional Inflows and Outflows
New Fortress Energy Price Performance
The stock has a 50-day simple moving average of $23.07 and a 200 day simple moving average of $28.25. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66. The company has a market cap of $4.58 billion, a P/E ratio of 10.32 and a beta of 1.49.
New Fortress Energy (NASDAQ:NFE – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, equities analysts expect that New Fortress Energy Inc. will post 1.99 EPS for the current year.
New Fortress Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio is 18.18%.
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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