Eneti (NASDAQ:NETI) Earns Buy Rating from Analysts at DNB Markets

DNB Markets started coverage on shares of Eneti (NASDAQ:NETIGet Rating) in a report published on Monday, The Fly reports. The firm issued a buy rating and a $11.00 price objective on the stock.

NETI stock opened at $6.48 on Monday. Eneti has a 52-week low of $4.81 and a 52-week high of $20.08. The company’s 50 day simple moving average is $6.48 and its 200-day simple moving average is $6.73. The firm has a market capitalization of $257.52 million, a P/E ratio of 27.00 and a beta of 1.16.

Eneti (NASDAQ:NETIGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.08. The firm had revenue of $22.44 million for the quarter, compared to analyst estimates of $19.21 million. Eneti had a negative net margin of 10.80% and a negative return on equity of 7.53%. Equities research analysts predict that Eneti will post 0.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Monday, May 23rd were paid a dividend of $0.01 per share. The ex-dividend date was Friday, May 20th. This represents a $0.04 annualized dividend and a dividend yield of 0.62%. Eneti’s dividend payout ratio (DPR) is 16.67%.

Several institutional investors and hedge funds have recently made changes to their positions in NETI. Toroso Investments LLC bought a new stake in shares of Eneti during the 1st quarter worth $67,000. Freemont Management S.A. bought a new stake in shares of Eneti during the 1st quarter worth $72,000. GSA Capital Partners LLP bought a new stake in shares of Eneti during the 1st quarter worth $76,000. Virtu Financial LLC bought a new stake in shares of Eneti during the 1st quarter worth $94,000. Finally, Bank of America Corp DE boosted its holdings in shares of Eneti by 43.3% during the 1st quarter. Bank of America Corp DE now owns 15,664 shares of the company’s stock worth $99,000 after buying an additional 4,730 shares during the period.

About Eneti (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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