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New Fortress Energy (NFE) Outpaces Stock Market Gains: What You Should Know
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New Fortress Energy (NFE - Free Report) closed the most recent trading day at $45.74, moving +1.67% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.14%. Meanwhile, the Dow gained 1.12%, and the Nasdaq, a tech-heavy index, added 0.04%.
New Fortress Energy will be looking to display strength as it nears its next earnings release, which is expected to be November 8, 2022. The company is expected to report EPS of $0.63, up 1360% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $735.15 million, up 141.3% from the prior-year quarter.
NFE's full-year Zacks Consensus Estimates are calling for earnings of $2.64 per share and revenue of $2.59 billion. These results would represent year-over-year changes of +266.67% and +95.66%, respectively.
Investors should also note any recent changes to analyst estimates for New Fortress Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. New Fortress Energy is currently a Zacks Rank #4 (Sell).
Investors should also note New Fortress Energy's current valuation metrics, including its Forward P/E ratio of 17.04. Its industry sports an average Forward P/E of 3.98, 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 industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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) Outpaces Stock Market Gains: What You Should Know
New Fortress Energy (NFE - Free Report) closed the most recent trading day at $45.74, moving +1.67% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.14%. Meanwhile, the Dow gained 1.12%, and the Nasdaq, a tech-heavy index, added 0.04%.
New Fortress Energy will be looking to display strength as it nears its next earnings release, which is expected to be November 8, 2022. The company is expected to report EPS of $0.63, up 1360% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $735.15 million, up 141.3% from the prior-year quarter.
NFE's full-year Zacks Consensus Estimates are calling for earnings of $2.64 per share and revenue of $2.59 billion. These results would represent year-over-year changes of +266.67% and +95.66%, respectively.
Investors should also note any recent changes to analyst estimates for New Fortress Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. New Fortress Energy is currently a Zacks Rank #4 (Sell).
Investors should also note New Fortress Energy's current valuation metrics, including its Forward P/E ratio of 17.04. Its industry sports an average Forward P/E of 3.98, 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 industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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.