B. Riley Comments on Eneti Inc.’s Q3 2023 Earnings (NYSE:NETI)

Posted by Defense World Staff on Aug 12th, 2023

Eneti Inc. (NYSE:NETI – Free Report) – Investment analysts at B. Riley lifted their Q3 2023 earnings per share (EPS) estimates for Eneti in a research report issued on Tuesday, August 8th. B. Riley analyst L. Burke now anticipates that the company will post earnings per share of $0.28 for the quarter, up from their prior forecast of $0.09. The consensus estimate for Eneti’s current full-year earnings is ($0.09) per share. B. Riley also issued estimates for Eneti’s Q4 2023 earnings at ($0.02) EPS, FY2023 earnings at ($0.14) EPS and FY2024 earnings at ($0.06) EPS.

A number of other analysts have also issued reports on NETI. TheStreet lowered Eneti from a “c-” rating to a “d+” rating in a research note on Wednesday. Citigroup downgraded Eneti from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Thursday, June 22nd.

Check Out Our Latest Analysis on NETI

Eneti Stock Down 0.7 %

Shares of NYSE:NETI opened at $11.37 on Friday. The stock’s 50-day moving average price is $12.04 and its two-hundred day moving average price is $10.40. The company has a current ratio of 3.75, a quick ratio of 3.63 and a debt-to-equity ratio of 0.07. Eneti has a 12-month low of $6.62 and a 12-month high of $13.54. The firm has a market cap of $439.45 million, a price-to-earnings ratio of -19.95 and a beta of 1.15.

Institutional Investors Weigh In On Eneti

Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of Eneti by 497.6% during the 4th quarter. Barclays PLC now owns 5,946 shares of the company’s stock valued at $60,000 after buying an additional 4,951 shares during the period. Quantbot Technologies LP raised its holdings in shares of Eneti by 31.6% during the 2nd quarter. Quantbot Technologies LP now owns 10,400 shares of the company’s stock valued at $63,000 after buying an additional 2,500 shares during the period. American International Group Inc. purchased a new stake in shares of Eneti during the 2nd quarter valued at about $66,000. Toroso Investments LLC purchased a new stake in shares of Eneti during the 1st quarter valued at about $67,000. Finally, ETF Managers Group LLC purchased a new stake in shares of Eneti during the 1st quarter valued at about $77,000. 71.42% of the stock is currently owned by hedge funds and other institutional investors.

Eneti Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be issued a $0.01 dividend. The ex-dividend date is Friday, August 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. Eneti’s dividend payout ratio (DPR) is -7.02%.

Eneti Company Profile

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Eneti Inc engages in offshore wind and marine-based renewable energy businesses. It owns and operates five wind turbine installation vessels. 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.