Equities Analysts Offer Predictions for Montauk Renewables, Inc.’s Q1 2024 Earnings (NASDAQ:MNTK)

Montauk Renewables, Inc. (NASDAQ:MNTK) – Equities research analysts at B. Riley issued their Q1 2024 earnings estimates for Montauk Renewables in a report issued on Tuesday, May 7th. B. Riley analyst R. Pfingst expects that the company will post earnings per share of ($0.02) for the quarter. 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’ 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $46.81 million during the quarter, compared to the consensus estimate of $52.86 million. Montauk Renewables had a net margin of 8.55% and a return on equity of 6.32%.

MNTK has been the subject of a number of other reports. Scotiabank dropped their target price on shares of 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. TheStreet lowered Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.75.

Montauk Renewables Stock Performance

Montauk Renewables stock opened at $4.06 on Thursday. Montauk Renewables has a 12-month low of $3.38 and a 12-month high of $10.95. The stock has a 50-day simple moving average of $4.27 and a 200 day simple moving average of $6.90. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $583.10 million, a price-to-earnings ratio of 38.00 and a beta of -0.40.

Hedge Funds Weigh In On Montauk Renewables

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Montauk Renewables in the 3rd quarter worth $219,000. Bank of New York Mellon Corp grew its position in shares of Montauk Renewables by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 263,144 shares of the company’s stock worth $2,397,000 after buying an additional 1,475 shares during the period. Strs Ohio bought a new stake in shares of Montauk Renewables in the 3rd quarter valued at about $144,000. CHICAGO TRUST Co NA raised its position in shares of Montauk Renewables by 12.5% in the 3rd quarter. CHICAGO TRUST Co NA now owns 20,350 shares of the company’s stock valued at $185,000 after acquiring an additional 2,255 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in Montauk Renewables during the 3rd quarter worth approximately $99,000. 16.35% of the stock is owned by institutional investors.

About Montauk Renewables

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.