Equities research analysts forecast that Genie Energy Ltd (NYSE:GNE) will post $0.17 earnings per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Genie Energy’s earnings. Genie Energy reported earnings per share of $0.21 in the same quarter last year, which would suggest a negative year over year growth rate of 19%. The firm is scheduled to issue its next earnings report on Monday, November 4th.
On average, analysts expect that Genie Energy will report full year earnings of $0.28 per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $0.34 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Genie Energy.
Genie Energy (NYSE:GNE) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.38). The company had revenue of $61.01 million during the quarter, compared to analyst estimates of $51.10 million. Genie Energy had a net margin of 6.08% and a return on equity of 24.53%.
Several analysts have weighed in on the stock. TheStreet lowered shares of Genie Energy from a “b-” rating to a “c+” rating in a research note on Thursday, August 15th. Noble Financial reiterated a “hold” rating on shares of Genie Energy in a research note on Wednesday, August 7th. Finally, Zacks Investment Research lowered shares of Genie Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 10th.
GNE traded up $0.17 during trading on Tuesday, hitting $7.44. The company had a trading volume of 122,076 shares, compared to its average volume of 313,070. The company has a market cap of $194.77 million, a PE ratio of 8.27 and a beta of 1.37. The business has a 50-day moving average of $9.92 and a 200-day moving average of $9.17. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.60. Genie Energy has a 1-year low of $5.08 and a 1-year high of $11.98.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 16th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.30 annualized dividend and a yield of 4.03%. Genie Energy’s payout ratio is 33.33%.
In other Genie Energy news, Director James A. Courter bought 56,649 shares of the stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $7.01 per share, for a total transaction of $397,109.49. Following the completion of the purchase, the director now directly owns 313,632 shares in the company, valued at $2,198,560.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.60% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Willingdon Wealth Management acquired a new stake in Genie Energy during the first quarter worth approximately $26,000. JPMorgan Chase & Co. bought a new position in Genie Energy in the second quarter worth approximately $41,000. Deutsche Bank AG boosted its holdings in Genie Energy by 538.5% in the fourth quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock worth $84,000 after acquiring an additional 11,857 shares in the last quarter. Zebra Capital Management LLC bought a new position in Genie Energy in the second quarter worth approximately $111,000. Finally, Bank of Montreal Can boosted its holdings in Genie Energy by 4,986.3% in the first quarter. Bank of Montreal Can now owns 20,040 shares of the oil and gas producer’s stock worth $171,000 after acquiring an additional 19,646 shares in the last quarter. Hedge funds and other institutional investors own 24.10% of the company’s stock.
About Genie Energy
Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.
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