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New Fortress Energy (NFE) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

New Fortress Energy (NFE) closed the most recent trading day at $48.89, moving -1.43% from the previous trading session. This change lagged the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.13%.

Coming into today, shares of the company had lost 14.44% in the past month. In that same time, the Oils-Energy sector lost 1.89%, while the S&P 500 lost 7.59%.

New Fortress Energy will be looking to display strength as it nears its next earnings release. On that day, New Fortress Energy is projected to report earnings of $0.63 per share, which would represent year-over-year growth of 1360%. Our most recent consensus estimate is calling for quarterly revenue of $735.15 million, up 141.3% from the year-ago period.

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.

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Investors might also notice recent changes to analyst estimates for New Fortress Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. New Fortress Energy is currently sporting a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, New Fortress Energy is holding a Forward P/E ratio of 18.79. Its industry sports an average Forward P/E of 4.04, so we one might conclude that New Fortress Energy is trading at a premium comparatively.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 23, putting it in the top 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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Zacks Investment Research