Eneti Inc. (NASDAQ:NETI – Get Rating) – Equities research analysts at B. Riley boosted their Q3 2022 earnings per share (EPS) estimates for Eneti in a research note issued to investors on Friday, May 13th. B. Riley analyst L. Burke now anticipates that the company will earn $0.44 per share for the quarter, up from their previous forecast of $0.37.
Eneti (NASDAQ:NETI – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.45). The firm had revenue of $16.52 million for the quarter, compared to the consensus estimate of $19.22 million. Eneti had a negative net margin of 10.80% and a negative return on equity of 8.33%. During the same quarter last year, the company posted ($0.36) earnings per share.
Several other research firms have also issued reports on NETI. Jefferies Financial Group upgraded Eneti from a “hold” rating to a “buy” rating and reduced their price target for the stock from $21.00 to $10.00 in a research report on Friday, January 21st. Citigroup began coverage on Eneti in a research report on Friday, February 11th. They set a “buy” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $15.67.
NETI opened at $6.23 on Monday. The stock’s 50 day simple moving average is $6.24 and its 200 day simple moving average is $7.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.45 and a quick ratio of 1.40. Eneti has a 1 year low of $4.81 and a 1 year high of $21.60. The firm has a market cap of $247.59 million, a price-to-earnings ratio of 25.96 and a beta of 1.17.
A number of institutional investors have recently modified their holdings of NETI. Handelsbanken Fonder AB purchased a new position in Eneti during the 4th quarter valued at $12,900,000. DNB Asset Management AS purchased a new stake in shares of Eneti in the 4th quarter worth about $6,587,000. Point72 Europe London LLP purchased a new stake in shares of Eneti in the 4th quarter worth about $4,356,000. Goldman Sachs Group Inc. grew its position in shares of Eneti by 3,624.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 525,029 shares of the company’s stock worth $4,064,000 after buying an additional 510,932 shares during the period. Finally, Evermore Global Advisors LLC grew its position in shares of Eneti by 278.7% in the 4th quarter. Evermore Global Advisors LLC now owns 603,908 shares of the company’s stock worth $4,674,000 after buying an additional 444,444 shares during the period.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, May 23rd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, May 20th. Eneti’s payout ratio is currently 16.67%.
Eneti Company Profile (Get Rating)
Eneti Inc engages in the marine-based renewable energy business. It owns and operates five wind turbine installation vessels serving the offshore wind industry. The company was formerly known as Scorpio Bulkers Inc and changed its name to Eneti Inc in February 2021. Eneti Inc was incorporated in 2013 and is based in Monaco.
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