Scotiabank slashes price target on New Fortress Energy Inc. [NFE] – find out why.

New Fortress Energy Inc. [NASDAQ: NFE] gained 10.96% on the last trading session, reaching $31.89 price per share at the time. The company report on August 27, 2020 that New Fortress Energy Declares Inaugural Common Stock Dividend.

New Fortress Energy Inc. (NASDAQ:NFE) (“New Fortress” or the “Company”) announced today that its Board of Directors (the “Board”) has declared a third quarter 2020 common stock dividend of $0.10 per Class A Common Share.

“We are pleased to announce our first common stock dividend,” said Wes Edens, Chairman and CEO of New Fortress. “As we stated on our earnings call, one of our strategic goals is to begin paying dividends to our shareholders as our long-term capital structure becomes highly cash flow generative. This dividend is a significant step forward toward our goal to become a world-class investment grade operating company.”.

New Fortress Energy Inc. represents 168.71 million in outstanding shares, while the company has a total market value of $5.29 billion with the latest information. NFE stock price has been found in the range of $29.005 to $32.41.

If compared to the average trading volume of 221.91K shares, NFE reached a trading volume of 1208185 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about New Fortress Energy Inc. [NFE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NFE shares is $27.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NFE stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Scotiabank have made an estimate for New Fortress Energy Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on July 22, 2020. While these analysts kept the previous recommendation, Johnson Rice raised their target price to Buy. The new note on the price target was released on June 17, 2020, representing the official price target for New Fortress Energy Inc. stock.

The Average True Range (ATR) for New Fortress Energy Inc. is set at 1.88, with the Price to Sales ratio for NFE stock in the period of the last 12 months amounting to 18.33. The Price to Book ratio for the last quarter was 12.81, with the Price to Cash per share for the same quarter was set at 1.01.

Trading performance analysis for NFE stock

New Fortress Energy Inc. [NFE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.13. With this latest performance, NFE shares gained by 28.43% in over the last four-week period, additionally plugging by 174.68% over the last 6 months – not to mention a rise of 97.95% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NFE stock in for the last two-week period is set at 78.18, with the RSI for the last a single of trading hit 81.00, and the three-weeks RSI is set at 76.27 for New Fortress Energy Inc. [NFE]. The present Moving Average for the last 50 days of trading for this stock 22.31, while it was recorded at 29.04 for the last single week of trading, and 15.88 for the last 200 days.

New Fortress Energy Inc. [NFE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and New Fortress Energy Inc. [NFE] shares currently have an operating margin of -96.23 and a Gross Margin at -15.37. New Fortress Energy Inc.’s Net Margin is presently recorded at -17.88.

Return on Total Capital for NFE is now -23.30, given the latest momentum, and Return on Invested Capital for the company is -6.95. Return on Equity for this stock declined to -19.15, with Return on Assets sitting at -3.71. When it comes to the capital structure of this company, New Fortress Energy Inc. [NFE] has a Total Debt to Total Equity ratio set at 730.94. Additionally, NFE Total Debt to Total Capital is recorded at 87.97, with Total Debt to Total Assets ending up at 55.16. Long-Term Debt to Equity for the company is recorded at 730.94, with the Long-Term Debt to Total Capital now at 87.97.

Reflecting on the efficiency of the workforce at the company, New Fortress Energy Inc. [NFE] managed to generate an average of -$168,204 per employee. Receivables Turnover for the company is 4.61 with a Total Asset Turnover recorded at a value of 0.21.New Fortress Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.40.

New Fortress Energy Inc. [NFE]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, New Fortress Energy Inc. posted -0.3/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -87.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NFE.

An analysis of insider ownership at New Fortress Energy Inc. [NFE]

There are presently around $2,015 million, or 37.60% of NFE stock, in the hands of institutional investors. The top three institutional holders of NFE stocks are: GREAT MOUNTAIN PARTNERS LLC with ownership of 36,057,591, which is approximately New of the company’s market cap and around 0.80% of the total institutional ownership; FORTRESS INVESTMENT GROUP LLC, holding 13,399,317 shares of the stock with an approximate value of $427.3 million in NFE stocks shares; and FEDERATED HERMES, INC., currently with $105.99 million in NFE stock with ownership of nearly 2.806% of the company’s market capitalization.

Positions in New Fortress Energy Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 22 institutional holders increased their position in New Fortress Energy Inc. [NASDAQ:NFE] by around 50,357,633 shares. Additionally, 12 investors decreased positions by around 890,383 shares, while 9 investors held positions by with 11,927,877 shares. The mentioned changes placed institutional holdings at 63,175,893 shares, according to the latest SEC report filing. NFE stock had 8 new institutional investments in for a total of 49,628,527 shares, while 4 institutional investors sold positions of 38,233 shares during the same period.

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