New Fortress Energy (NFE) Stock Moves -0.24%: What You Should Know
In the latest trading session, New Fortress Energy (NFE) closed at $44.53, marking a -0.24% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.11%. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Heading into today, shares of the company had lost 22.18% over the past month, lagging the Oils-Energy sector's loss of 11.61% and the S&P 500's loss of 8.19% in that time.
New Fortress Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect New Fortress Energy to post earnings of $0.63 per share. This would mark year-over-year growth of 1360%. Meanwhile, our latest consensus estimate is calling for revenue of $735.15 million, up 141.3% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.64 per share and revenue of $2.59 billion, which would represent changes of +266.67% and +95.66%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for New Fortress Energy. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. New Fortress Energy is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, New Fortress Energy is currently trading at a Forward P/E ratio of 16.91. For comparison, its industry has an average Forward P/E of 3.9, which means New Fortress Energy is trading at a premium to the group.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NFE in the coming trading sessions, be sure to utilize Zacks.com.
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New Fortress Energy LLC (NFE) : Free Stock Analysis Report
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