Eneti Inc. (NASDAQ:NETI) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Eneti Inc. (NASDAQ:NETIGet Rating) have received an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.63.

NETI has been the topic of several research analyst reports. Zacks Investment Research raised Eneti from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a research report on Wednesday, May 18th. Citigroup started coverage on Eneti in a research note on Friday, February 11th. They issued a “buy” rating and a $10.00 price target for the company.

Several large investors have recently added to or reduced their stakes in NETI. Citadel Advisors LLC acquired a new position in shares of Eneti during the 2nd quarter worth about $389,000. BlackRock Inc. boosted its position in shares of Eneti by 12.6% during the 3rd quarter. BlackRock Inc. now owns 22,507 shares of the company’s stock worth $375,000 after acquiring an additional 2,510 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Eneti by 304.0% in the 3rd quarter. Citigroup Inc. now owns 52,899 shares of the company’s stock valued at $883,000 after purchasing an additional 39,804 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Eneti by 34.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 14,097 shares of the company’s stock valued at $235,000 after purchasing an additional 3,615 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Eneti by 20.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,168 shares of the company’s stock valued at $253,000 after purchasing an additional 2,611 shares during the last quarter.

Eneti stock traded up $0.20 during mid-day trading on Friday, hitting $6.93. The company’s stock had a trading volume of 3,247 shares, compared to its average volume of 336,511. The company has a 50 day moving average of $6.30 and a 200-day moving average of $7.02. The stock has a market cap of $275.41 million, a PE ratio of 28.04 and a beta of 1.17. Eneti has a one year low of $4.81 and a one year high of $21.33.

Eneti (NASDAQ:NETIGet 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 business had revenue of $16.52 million during 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 7.53%. During the same period last year, the company earned ($0.36) EPS. Analysts expect that Eneti will post 0.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Monday, May 23rd will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 20th. This represents a $0.04 annualized dividend and a yield of 0.58%. Eneti’s payout ratio is 16.67%.

Eneti Company Profile (Get Rating)

Eneti Inc engages in the 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.

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Analyst Recommendations for Eneti (NASDAQ:NETI)

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