NextDecade (NASDAQ:NEXT) Posts Earnings Results, Beats Estimates By $0.41 EPS

Key Points

• NextDecade beat earnings expectations: The company reported a quarterly loss of $0.25 per share, better than the consensus estimate of a $0.66 loss.
• Shares rose 6.2% to $6.73 during mid-day trading, although the stock remains well below its 52-week high of $11.59 and carries high leverage, with a debt-to-equity ratio of 3.96.
• Analysts remain cautious, with the stock holding a consensus “Hold” rating and an average price target of $8.10. Institutional investors own 66.74% of NextDecade’s shares.

NextDecade (NASDAQ:NEXT - Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.41, FiscalAI reports.

NextDecade Trading Up 6.2%

NextDecade stock traded up $0.39 during mid-day trading on Thursday, hitting $6.73. The company's stock had a trading volume of 2,911,238 shares, compared to its average volume of 3,681,126. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50 day moving average of $7.78 and a 200-day moving average of $6.95. NextDecade has a one year low of $4.75 and a one year high of $11.59. The stock has a market cap of $1.78 billion, a PE ratio of -5.02 and a beta of 1.51.

Wall Street Analysts Forecast Growth

NEXT has been the topic of a number of recent research reports. The Goldman Sachs Group assumed coverage on NextDecade in a research note on Wednesday, July 15th. They issued a "neutral" rating and a $8.50 price objective for the company. Citigroup started coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a "buy" rating and a $11.00 price target for the company. Morgan Stanley upped their price target on shares of NextDecade from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NextDecade in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.10.

Institutional Trading of NextDecade

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in NextDecade by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company's stock worth $18,222,000 after buying an additional 45,757 shares during the period. Bank of America Corp DE grew its stake in NextDecade by 16.7% in the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company's stock worth $27,642,000 after purchasing an additional 444,518 shares in the last quarter. State Street Corp increased its holdings in NextDecade by 1.2% during the 4th quarter. State Street Corp now owns 2,922,596 shares of the company's stock worth $15,402,000 after purchasing an additional 35,445 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in NextDecade by 1.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,945,794 shares of the company's stock worth $13,212,000 after purchasing an additional 22,414 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in NextDecade by 77.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company's stock valued at $8,834,000 after purchasing an additional 732,550 shares in the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.

About NextDecade

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company's core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade's projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade's flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.

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