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New Fortress Energy (NFE) Stock Moves -1.24%: What You Should Know
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In the latest trading session, New Fortress Energy (NFE - Free Report) closed at $46.94, marking a -1.24% move from the previous day. This change was narrower than the S&P 500's 2.8% loss on the day. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Coming into today, shares of the company had lost 19.15% in the past month. In that same time, the Oils-Energy sector gained 1.49%, while the S&P 500 lost 4.08%.
Investors will be hoping for strength from New Fortress Energy as it approaches 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
It is also important to note the recent changes to analyst estimates for New Fortress Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. New Fortress Energy is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, New Fortress Energy currently has a Forward P/E ratio of 18. This represents a premium compared to its industry's average Forward P/E of 3.92.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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New Fortress Energy (NFE) Stock Moves -1.24%: What You Should Know
In the latest trading session, New Fortress Energy (NFE - Free Report) closed at $46.94, marking a -1.24% move from the previous day. This change was narrower than the S&P 500's 2.8% loss on the day. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Coming into today, shares of the company had lost 19.15% in the past month. In that same time, the Oils-Energy sector gained 1.49%, while the S&P 500 lost 4.08%.
Investors will be hoping for strength from New Fortress Energy as it approaches 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
It is also important to note the recent changes to analyst estimates for New Fortress Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. New Fortress Energy is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, New Fortress Energy currently has a Forward P/E ratio of 18. This represents a premium compared to its industry's average Forward P/E of 3.92.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.