Eneti Inc. (NASDAQ:NETI) Receives $14.80 Average Price Target from Analysts

Eneti Inc. (NASDAQ:NETIGet Rating) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.80.

A number of brokerages have commented on NETI. Zacks Investment Research upgraded shares of Eneti from a “sell” rating to a “hold” rating in a research note on Wednesday, January 5th. Jefferies Financial Group upgraded shares of Eneti from a “hold” rating to a “buy” rating and cut their price target for the company from $21.00 to $10.00 in a research note on Friday, January 21st. Finally, Citigroup began coverage on shares of Eneti in a research note on Friday, February 11th. They issued a “buy” rating and a $10.00 price target for the company.

A number of large investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB bought a new position in Eneti during the fourth quarter worth about $12,900,000. DNB Asset Management AS increased its position in Eneti by 19.4% during the first quarter. DNB Asset Management AS now owns 1,016,011 shares of the company’s stock worth $6,442,000 after acquiring an additional 164,924 shares during the period. Condire Management LP increased its position in Eneti by 5.8% during the fourth quarter. Condire Management LP now owns 960,992 shares of the company’s stock worth $7,438,000 after acquiring an additional 52,577 shares during the period. Evermore Global Advisors LLC increased its position in Eneti by 278.7% during the fourth quarter. Evermore Global Advisors LLC now owns 603,908 shares of the company’s stock worth $4,674,000 after acquiring an additional 444,444 shares during the period. Finally, Point72 Europe London LLP bought a new position in Eneti during the fourth quarter worth about $4,356,000.

NETI traded up $0.08 during trading hours on Thursday, hitting $6.04. 5,402 shares of the company’s stock were exchanged, compared to its average volume of 361,174. Eneti has a 1-year low of $4.99 and a 1-year high of $21.60. The firm has a 50-day moving average price of $6.43. The company has a market capitalization of $67.83 million, a PE ratio of 2.96 and a beta of 1.25.

Eneti (NASDAQ:NETIGet Rating) last announced its earnings results on Wednesday, February 23rd. The company reported ($0.94) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.45). The business had revenue of $16.52 million for the quarter, compared to analyst estimates of $19.22 million. Eneti had a return on equity of 1.18% and a net margin of 17.35%. During the same quarter in the previous year, the company posted ($0.36) EPS. As a group, equities analysts predict that Eneti will post -0.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, March 7th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, March 4th. Eneti’s payout ratio is presently 1.01%.

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.

Further Reading

Analyst Recommendations for Eneti (NASDAQ:NETI)

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