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New Fortress Energy (NFE) Gains As Market Dips: What You Should Know
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In the latest trading session, New Fortress Energy (NFE - Free Report) closed at $55.07, marking a +0.99% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq added 0.13%.
Heading into today, shares of the company had gained 24.75% over the past month, outpacing the Oils-Energy sector's gain of 16.47% and the S&P 500's gain of 4.98% in that time.
Investors will be hoping for strength from New Fortress Energy as it approaches its next earnings release, which is expected to be November 8, 2022. On that day, New Fortress Energy is projected to report earnings of $1 per share, which would represent year-over-year growth of 2100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $741.1 million, up 143.25% from the year-ago period.
NFE's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $2.54 billion. These results would represent year-over-year changes of +222.22% and +92.12%, respectively.
Investors might also notice recent changes to analyst estimates for New Fortress Energy. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. New Fortress Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, New Fortress Energy is currently trading at a Forward P/E ratio of 23.5. This valuation marks a premium compared to its industry's average Forward P/E of 4.1.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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New Fortress Energy (NFE) Gains As Market Dips: What You Should Know
In the latest trading session, New Fortress Energy (NFE - Free Report) closed at $55.07, marking a +0.99% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq added 0.13%.
Heading into today, shares of the company had gained 24.75% over the past month, outpacing the Oils-Energy sector's gain of 16.47% and the S&P 500's gain of 4.98% in that time.
Investors will be hoping for strength from New Fortress Energy as it approaches its next earnings release, which is expected to be November 8, 2022. On that day, New Fortress Energy is projected to report earnings of $1 per share, which would represent year-over-year growth of 2100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $741.1 million, up 143.25% from the year-ago period.
NFE's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $2.54 billion. These results would represent year-over-year changes of +222.22% and +92.12%, respectively.
Investors might also notice recent changes to analyst estimates for New Fortress Energy. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. New Fortress Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, New Fortress Energy is currently trading at a Forward P/E ratio of 23.5. This valuation marks a premium compared to its industry's average Forward P/E of 4.1.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.