New Fortress Energy (NASDAQ:NFE) Releases Quarterly Earnings Results, Beats Expectations By $9.20 EPS

New Fortress Energy (NASDAQ:NFE) released its quarterly earnings results on Thursday, August 6th. The company reported ($1.30) earnings per share for the quarter, beating the consensus estimate of ($10.50) by $9.20, Zacks reports. The firm had revenue of $312.50 million for the quarter, compared to analysts’ expectations of $511.60 million. New Fortress Energy had a negative return on equity of 795.34% and a negative net margin of 149.40%.

New Fortress Energy Trading Down 8.0%

Shares of NASDAQ NFE traded down $1.11 during trading hours on Tuesday, hitting $12.77. The company’s stock had a trading volume of 460,792 shares, compared to its average volume of 163,636. New Fortress Energy has a 12 month low of $11.25 and a 12 month high of $154.00. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -4.73 and a beta of 1.35. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.15 and a current ratio of 0.16. The business has a 50-day simple moving average of $15.68 and a 200-day simple moving average of $27.53.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of New Fortress Energy in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

About New Fortress Energy

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.