FY2024 Earnings Forecast for Montauk Renewables, Inc. (NASDAQ:MNTK) Issued By B. Riley

Montauk Renewables, Inc. (NASDAQ:MNTK) – Research analysts at B. Riley decreased their FY2024 earnings per share estimates for shares of Montauk Renewables in a report issued on Tuesday, May 7th. B. Riley analyst R. Pfingst now forecasts that the company will post earnings per share of $0.24 for the year, down from their previous forecast of $0.29. B. Riley currently has a “Neutral” rating and a $6.00 target price on the stock. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.29 per share. B. Riley also issued estimates for Montauk Renewables’ FY2025 earnings at $0.23 EPS.

Several other brokerages have also issued reports on MNTK. TheStreet lowered Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Scotiabank cut their price target on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.75.

Montauk Renewables Trading Up 3.4 %

Shares of Montauk Renewables stock opened at $4.20 on Friday. Montauk Renewables has a 1 year low of $3.38 and a 1 year high of $10.95. The firm has a market cap of $603.20 million, a PE ratio of 38.19 and a beta of -0.40. The stock has a fifty day moving average price of $4.21 and a 200-day moving average price of $6.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07.

Montauk Renewables (NASDAQ:MNTK) last announced its earnings results on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Montauk Renewables had a net margin of 8.55% and a return on equity of 6.32%. The business had revenue of $46.81 million for the quarter, compared to analysts’ expectations of $52.86 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MNTK. Bleakley Financial Group LLC boosted its stake in Montauk Renewables by 129.6% in the 4th quarter. Bleakley Financial Group LLC now owns 24,971 shares of the company’s stock worth $222,000 after purchasing an additional 14,094 shares during the period. Hosking Partners LLP boosted its stake in Montauk Renewables by 13.2% in the 3rd quarter. Hosking Partners LLP now owns 897,071 shares of the company’s stock worth $8,172,000 after purchasing an additional 104,821 shares during the period. Simplicity Solutions LLC boosted its stake in Montauk Renewables by 129.6% in the 4th quarter. Simplicity Solutions LLC now owns 24,971 shares of the company’s stock worth $222,000 after purchasing an additional 14,094 shares during the period. Strs Ohio bought a new stake in shares of Montauk Renewables during the 3rd quarter valued at about $144,000. Finally, Vanguard Group Inc. boosted its position in shares of Montauk Renewables by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock valued at $31,618,000 after acquiring an additional 38,605 shares during the last quarter. Institutional investors own 16.35% of the company’s stock.

Montauk Renewables Company Profile

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.