Q1 2024 Earnings Estimate for Montauk Renewables, Inc. (NASDAQ:MNTK) Issued By B. Riley

Montauk Renewables, Inc. (NASDAQ:MNTK) – Research analysts at B. Riley issued their Q1 2024 earnings per share (EPS) estimates for shares of Montauk Renewables in a research report issued to clients and investors on Tuesday, May 7th. B. Riley analyst R. Pfingst forecasts that the company will post earnings of ($0.02) per share for the quarter. B. Riley currently has a “Neutral” rating and a $6.00 price target 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’ Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.08 EPS and Q4 2024 earnings at $0.09 EPS.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings data on Thursday, March 14th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Montauk Renewables had a net margin of 8.55% and a return on equity of 6.32%. The firm had revenue of $46.81 million during the quarter, compared to analyst estimates of $52.86 million.

A number of other brokerages have also recently commented on MNTK. TheStreet cut Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Scotiabank cut their price objective on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.75.

Montauk Renewables Stock Performance

Shares of NASDAQ MNTK opened at $4.20 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07. The stock’s fifty day moving average price is $4.24 and its two-hundred day moving average price is $6.88. Montauk Renewables has a one year low of $3.38 and a one year high of $10.95. The firm has a market cap of $603.20 million, a price-to-earnings ratio of 36.91 and a beta of -0.40.

Hedge Funds Weigh In On Montauk Renewables

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its position in shares of Montauk Renewables by 129.6% during the fourth quarter. Bleakley Financial Group LLC now owns 24,971 shares of the company’s stock valued at $222,000 after buying an additional 14,094 shares during the last quarter. Hosking Partners LLP increased 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 acquiring an additional 104,821 shares during the last quarter. Simplicity Solutions LLC raised its stake in Montauk Renewables by 129.6% in the fourth quarter. Simplicity Solutions LLC now owns 24,971 shares of the company’s stock valued at $222,000 after purchasing an additional 14,094 shares in the last quarter. Strs Ohio bought a new stake in shares of Montauk Renewables during the 3rd quarter worth $144,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Montauk Renewables by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock worth $31,618,000 after purchasing an additional 38,605 shares in the last quarter. Institutional investors and hedge funds 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.