A share price of New Fortress Energy Inc [NFE] is currently trading at $33.46, up 4.50%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The NFE shares have gain 5.15% over the last week, with a monthly amount glided 5.72%, and seem to be holding up well over a long-time horizon.
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On 5, March 2024, New Fortress Energy Inc. Announces Increase to Previously Announced Cash Tender Offer for its 6.750% Senior Secured Notes due 2025. In a post published today on Yahoo Finance, New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) previously announced the commencement of a tender offer (the “Tender Offer”) to purchase for cash up to $250,000,000 in aggregate principal amount of its outstanding 6.750% Senior Secured Notes due 2025 (the “Notes”). The Company hereby amends the Tender Offer to purchase for cash up to $375,000,000 in aggregate principal amount of the Notes (as such aggregate principal amount may be increased or decreased by the Company, the “Aggregate Maximum Principal Amount”).
From an analyst’s perspective:
New Fortress Energy Inc [NASDAQ: NFE] stock has seen the most recent analyst activity on March 04, 2024, when Deutsche Bank downgraded its rating to a Hold and also revised its price target to $35 from $40. On June 08, 2023, downgrade downgraded it’s rating to Neutral and revised its price target to $31 on the stock. Deutsche Bank started tracking the stock assigning a Buy rating and suggested a price target of $60 on April 10, 2023. BofA Securities initiated its recommendation with a Buy and recommended $67 as its price target on February 01, 2023. BTIG Research upgraded its rating to Buy for this stock on January 31, 2023, but kept the price target unchanged to $50. In a note dated October 19, 2022, Jefferies initiated an Buy rating and provided a target price of $65 on this stock.
New Fortress Energy Inc experienced fluctuations in its stock price throughout the past year between $25.06 and $40.04. Currently, Wall Street analysts expect the stock to reach $56 within the next 12 months. New Fortress Energy Inc [NASDAQ: NFE] shares were valued at $33.46 at the most recent close of the market. An investor can expect a potential return of 67.36% based on the average NFE price forecast.
Analyzing the NFE fundamentals
Trailing Twelve Months sales for New Fortress Energy Inc [NASDAQ:NFE] were 2.41B which represents 38.80% growth. Gross Profit Margin for this corporation currently stands at 0.52% with Operating Profit Margin at 0.37%, Pretax Profit Margin comes in at 0.27%, and Net Profit Margin reading is 0.23%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.38 and Total Capital is 0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of4.25.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 32.23 points at the first support level, and at 31.00 for the second support level. However, for the 1st resistance point, the stock is sitting at 34.39, and for the 2nd resistance point, it is at 35.32.
New Fortress Energy Inc [NFE] reported earnings per share of $1.06 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.78/share, meaning a difference of $0.28 and a surprise factor of 35.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.3 per share as compared to estimates of $0.24 per share, a difference of $0.06 representing a surprise of 25.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for New Fortress Energy Inc [NASDAQ:NFE] is 0.57. Further, the Quick Ratio stands at 0.51, while the Cash Ratio is 0.18. Considering the valuation of this stock, the price to sales ratio is 2.84, the price to book ratio is 4.26 and price to earnings (TTM) ratio is 12.61.
Transactions by insiders
Recent insider trading involved Catterall Desmond Iain, Director, that happened on May 26 when 4734.0 shares were purchased. Director, Jay Timothy W. completed a deal on May 24 to buy 2000.0 shares. Meanwhile, Director Jay Timothy W. bought 250.0 shares on May 24.
