Eneti Inc., a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. As of December 31, 2020, the company owned or finance leased 41 vessels consisting of 13 Kamsarmax vessels and 28 Ultramax vessels, as well as time chartered-in five Kamsarmax vessels. It also focuses on the marine-based renewable energy business, which include investing in the 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.
IPO Year: 2013
Exchange: NYSE
Website: eneti-inc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/22/2023 | $14.00 | Buy → Neutral | Citigroup |
| 4/11/2023 | $13.00 | Buy | Pareto |
| 9/13/2022 | $11.00 | Buy | Jefferies |
| 2/11/2022 | $10.00 | Buy | Citigroup |
| 1/21/2022 | $21.00 → $10.00 | Hold → Buy | Jefferies |
| 11/15/2021 | $20.00 → $14.00 | Hold → Buy | Stifel |
| 8/19/2021 | $22.00 → $21.00 | Hold | Jefferies |
MONACO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) ("Eneti") and Cadeler A/S (OSE: CADLR) ("Cadeler"), two offshore wind turbine and foundation installation companies, remind shareholders that the expiration date for the share exchange offer (the "Share Exchange Offer") to acquire all of the issued and outstanding shares of the common stock of Eneti has been extended to 5:30 p.m. Eastern Time on December 14, 2023. Shareholders that have previously tendered their shares do not need to take any action in response to the extension of the Share Exchange Offer. If you would like to tender your shares or require assistance, please contact D.F. King & Co., Inc., the information ag
MONACO, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Cadeler A/S (OSE: CADLR) ("Cadeler") and Eneti Inc. (NYSE:NETI) ("Eneti"), two offshore wind turbine and foundation installation companies, announced the extension of the expiration date for the share exchange offer (the "Share Exchange Offer") to acquire all of the issued and outstanding shares of the common stock of Eneti Inc. (NYSE:NETI) ("Eneti") to 5:30 p.m. Eastern Time on December 14, 2023. In addition, Cadeler has determined pursuant to the terms of the Share Exchange Offer as set forth in the Prospectus/Offer to Exchange, dated November 7, 2023 (the "Prospectus/Offer to Exchange") to reduce the minimum tender condition for the Share Excha
MONACO, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Cadeler A/S (OSE: CADLR) ("Cadeler") and Eneti Inc. (NYSE:NETI) ("Eneti"), two offshore wind turbine and foundation installation companies, announced the extension of the expiration date for the share exchange offer (the "Share Exchange Offer") to acquire all of the issued and outstanding shares of the common stock of Eneti Inc. (NYSE:NETI) ("Eneti") to 5:30 p.m. Eastern Time on December 14, 2023. In addition, Cadeler has determined pursuant to the terms of the Share Exchange Offer as set forth in the Prospectus/Offer to Exchange, dated November 7, 2023 (the "Prospectus/Offer to Exchange") to reduce the minimum tender condition for the Share Exchan
MONACO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) ("Eneti" or the "Company") announced today that the Company executed a previously announced senior secured green term loan facility of up to $436.0 million (the "Credit Facility") with a group of international banks and export credit agencies co-arranged and co-underwritten by Credit Agricole Corporate and Investment Bank and Société Générale, and with Société Générale as Green Loan Coordinator. The Credit Facility finances approximately 65% of the purchase cost of the Company's two newbuild wind turbine installation vessels (each a "WTIV"), and it includes a commercial tranche of up to $130.8 million, a direct tranche from t
MONACO, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) ("Eneti" or the "Company"), today reported its results for the three months ended September 30, 2023. The Company also announced that on November 14, 2023 its board of directors (the "Board of Directors") declared a quarterly cash dividend of $0.01 per share on the Company's common shares. Results for the Three and Nine Months Ended September 30, 2023 and 2022 For the third quarter of 2023, the Company's GAAP net income was $18.3 million, or $0.48 per diluted share, including transaction costs of $0.2 million or $0.01 per diluted share, consisting primarily of legal and tax services related to its pending business combinat
MONACO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Cadeler A/S (OSE: CADLR) ("Cadeler") and Eneti Inc. (NYSE:NETI) ("Eneti"), two offshore wind turbine and foundation installation companies, announce the commencement of a share exchange offer (the "Offer") for all of the outstanding shares of common stock of Eneti. The Offer is being made pursuant to the Business Combination Agreement, announced on June 16, 2023. The Offer is expected to close within Q4 2023. Cadeler will host a conference call on November 8, 2023 at 9:00 a.m. ET / 3:00 p.m. CET (please see below for webcast details). The combined group will be named Cadeler, and be headquartered in Copenhagen, Denmark, with its shares to be l
MONACO, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") plans to announce third quarter 2023 financial results in a press release that will be issued before the market opens on Tuesday, November 14, 2023. A conference call to discuss the Company's results will be held at 9:00 AM Eastern Time / 3:00 PM Central European Time on November 14, 2023. Those wishing to listen to the call should dial 1 (877) 513-1694 (U.S.) or 1 (412) 902-4269 (International) at least 15 minutes prior to the start of the call to ensure connection. The information provided on the teleconference is only accurate at the time of the conference call, and the Company will take no responsibility
MONACO, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") announced today that Seajacks UK Limited, a wholly-owned subsidiary of the Company and a leading provider of installation and maintenance vessels to the offshore wind sector, has signed a contract with an undisclosed client to transport and install turbines. With mobilization commencing in the second quarter of 2027, the contract will be performed by one of the Company's two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwha Ocean in South Korea. Inclusive of mobilization and demobilization, the engagement is expected to be between 180 and 210 days and generate approximately USD
MONACO, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") announced today that Seajacks UK Limited, a wholly-owned subsidiary of the Company and a leading provider of installation and maintenance vessels to the offshore wind sector, has signed a contract with an undisclosed client to assist with the installation of wind turbines. With mobilization commencing in 2024, the contract will be performed by the Company's NG14000X-class vessel, "Seajacks Scylla". Inclusive of mobilization and demobilization, the engagement is expected to be between 442 and 655 days and generate approximately USD 113 million to USD 167 million of gross revenue. There are no material project
MONACO, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") announced today that Seajacks UK Limited, a wholly-owned subsidiary of the Company and a leading provider of installation and maintenance vessels to the offshore wind sector, has signed a vessel reservation agreement with an undisclosed client to transport and install turbines. With mobilization commencing in the first quarter of 2027, the contract will be performed by one of the Company's two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwa Ocean in South Korea. Inclusive of mobilization and demobilization, the engagement is expected to be between 210 and 245 days and gener
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MONACO, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) ("Eneti" or the "Company"), today reported its results for the three months ended September 30, 2023. The Company also announced that on November 14, 2023 its board of directors (the "Board of Directors") declared a quarterly cash dividend of $0.01 per share on the Company's common shares. Results for the Three and Nine Months Ended September 30, 2023 and 2022 For the third quarter of 2023, the Company's GAAP net income was $18.3 million, or $0.48 per diluted share, including transaction costs of $0.2 million or $0.01 per diluted share, consisting primarily of legal and tax services related to its pending business combinat
MONACO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Cadeler A/S (OSE: CADLR) ("Cadeler") and Eneti Inc. (NYSE:NETI) ("Eneti"), two offshore wind turbine and foundation installation companies, announce the commencement of a share exchange offer (the "Offer") for all of the outstanding shares of common stock of Eneti. The Offer is being made pursuant to the Business Combination Agreement, announced on June 16, 2023. The Offer is expected to close within Q4 2023. Cadeler will host a conference call on November 8, 2023 at 9:00 a.m. ET / 3:00 p.m. CET (please see below for webcast details). The combined group will be named Cadeler, and be headquartered in Copenhagen, Denmark, with its shares to be l
MONACO, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") plans to announce third quarter 2023 financial results in a press release that will be issued before the market opens on Tuesday, November 14, 2023. A conference call to discuss the Company's results will be held at 9:00 AM Eastern Time / 3:00 PM Central European Time on November 14, 2023. Those wishing to listen to the call should dial 1 (877) 513-1694 (U.S.) or 1 (412) 902-4269 (International) at least 15 minutes prior to the start of the call to ensure connection. The information provided on the teleconference is only accurate at the time of the conference call, and the Company will take no responsibility
MONACO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) ("Eneti" or the "Company"), today reported its results for the three months ended June 30, 2023. The Company also announced that on August 8, 2023 its board of directors (the "Board of Directors") declared a quarterly cash dividend of $0.01 per share on the Company's common shares. Results for the Three and Six Months Ended June 30, 2023 and 2022 For the second quarter of 2023, the Company's GAAP net loss was $49.8 million, or $1.36 per diluted share, including: a write-down of assets classified as held for sale of $49.3 million or $1.35 per diluted share,transaction costs of $3.3 million or $0.09 per diluted, consisting p
MONACO, July 28, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") plans to announce second quarter 2023 financial results in a press release that will be issued before the market opens on Tuesday, August 8, 2023. A conference call to discuss the Company's results will be held at 9:00 AM Eastern Daylight Time / 4:30 PM Central European Summer Time on August 8, 2023. Those wishing to listen to the call should dial 1 (877) 513-1694 (U.S.) or 1 (412) 902-4269 (International) at least 15 minutes prior to the start of the call to ensure connection. The information provided on the teleconference is only accurate at the time of the conference call, and the Company will take no res
MONACO, June 16, 2023 (GLOBE NEWSWIRE) -- Cadeler A/S (OSE: CADLR) ("Cadeler") and Eneti Inc. (NYSE:NETI) ("Eneti"), two offshore wind turbine and foundation installation companies, announce today that they have entered into a business combination agreement to combine (the "Combination") through a stock-for-stock exchange offer to be made to all stockholders of Eneti based on an exchange ratio of 3.409 Cadeler shares for each Eneti share (the "Exchange Offer"). Following the completion of the Exchange Offer, Cadeler and Eneti shareholders will own approximately 60% and 40% of the combined company, respectively, on the basis of the share counts for each of Cadeler and Eneti as at 16 June 2
MONACO, April 27, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) ("Eneti" or the "Company"), today reported its results for the three months ended March 31, 2023. The Company also announced that on April 27, 2023 its board of directors (the "Board of Directors") declared a quarterly cash dividend of $0.01 per share on the Company's common shares. Results for the Three Months Ended March 31, 2023 and 2022 For the first quarter of 2023, the Company's GAAP net loss was $17.6 million, or $0.48 per diluted share.Total revenues for the first quarter of 2023 were $13.8 million, compared to $22.4 million for the same period in 2022. First quarter 2023 revenues consisted of revenues generated b
MONACO, April 18, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") plans to announce first quarter 2023 financial results in a press release that will be issued before the market opens on Thursday, April 27, 2023. A conference call to discuss the Company's results will be held at 10:30 AM Eastern Daylight Time / 4:30 PM Central European Summer Time on April 27, 2023. Those wishing to listen to the call should dial 1 (877) 513-1694 (U.S.) or 1 (412) 902-4269 (International) at least 15 minutes prior to the start of the call to ensure connection. The conference participant passcode is 10178256. The information provided on the teleconference is only accurate at the time of the
MONACO, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) ("Eneti" or the "Company"), today reported its results for the three months ended December 31, 2022. The Company also announced that on February 9, 2023 its board of directors (the "Board of Directors") declared a quarterly cash dividend of $0.01 per share on the Company's common shares. The Company's results for the three and twelve months ended December 31, 2022 include the impact of Seajacks International Limited's ("Seajacks") earnings, which was acquired on August 12, 2021. Since the completion of the acquisition, the operations of the Company are primarily those of Seajacks as the Company completed its exit from the d
MONACO, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE:NETI) (the "Company") plans to announce fourth quarter 2022 financial results in a press release that will be issued before the market opens on Thursday, February 9, 2023. A conference call to discuss the Company's results will be held at 9:00 AM Eastern Standard Time / 3:00 PM Central European Time on February 9, 2023. Those wishing to listen to the call should dial 1 (877) 513-1694 (U.S.) or 1 (412) 902-4269 (International) at least 10 minutes prior to the start of the call to ensure connection. The conference participant passcode is 10175378. The information provided on the teleconference is only accurate at the time of the c
Citigroup downgraded Eneti from Buy to Neutral and set a new price target of $14.00
Pareto initiated coverage of Eneti with a rating of Buy and set a new price target of $13.00
Jefferies resumed coverage of Eneti with a rating of Buy and set a new price target of $11.00
Citigroup initiated coverage of Eneti with a rating of Buy and set a new price target of $10.00
Jefferies upgraded Eneti from Hold to Buy and set a new price target of $10.00 from $21.00 previously
Stifel upgraded Eneti from Hold to Buy and set a new price target of $14.00 from $20.00 previously
Jefferies reiterated coverage of Eneti with a rating of Hold and set a new price target of $21.00 from $22.00 previously
Jefferies reiterated coverage of Eneti with a rating of Hold and set a new price target of $22.00 from $20.00 previously
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Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) moved lower during Friday’s session following weak quarterly earnings. Comtech Telecom posted adjusted earnings of 24 cents per share, missing market estimates of 26 cents per share. The company’s quarterly sales came in at $151.91 million versus expectations of $151.87 million. Comtech Telecommunications shares fell 16.4% to $10.45 on Friday. Here are some other stocks moving in today's mid-day session. Gainers Intensity Therapeutics, Inc. (NASDAQ:INTS) shares jumped 149.2% to $10.32. Intensity Therapeutics presented INT230-6 data in early-stage breast cancer patients. MBIA Inc. (NYSE:MBI) shares climbed 63.8% to $12.09 after
In addition, Cadeler has determined pursuant to the terms of the Share Exchange Offer as set forth in the Prospectus/Offer to Exchange, dated November 7, 2023 (the "Prospectus/Offer to Exchange") to reduce the minimum tender condition for the Share Exchange Offer from 85.01% to 70%.
Gainers Eneti (NYSE:NETI) shares increased by 11.0% to $10.9 during Friday's pre-market session. The market value of their outstanding shares is at $421.2 million. Virco Mfg (NASDAQ:VIRC) stock rose 10.55% to $7.75. The market value of their outstanding shares is at $126.6 million. As per the press release, Q3 earnings came out today. AERWINS Technologies (NASDAQ:AWIN) stock moved upwards by 10.12% to $0.15. The market value of their outstanding shares is at $9.1 million. Ault Alliance (AMEX:AULT) shares increased by 10.01% to $0.1. The market value of their outstanding shares is at $7.1 million. Multi Ways Holdings (AMEX:MWG) stock rose 6.82% to $0.25. The company's market cap stands a
Monday marks the last chance for investors to receive the next dividend payout from Eneti (NYSE:NETI). What's Happening The company announced on Tuesday that it would pay shareholders a quarterly dividend of 1 cents per share. On Tuesday, Eneti will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 1 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own NETI as of the end of Monday's session are eligible to receive the 1 cents dividend payout for every share th
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Eneti (NYSE:NETI) reported its Q3 earnings results on Tuesday, November 14, 2023 at 07:30 AM. Here's what investors need to know about the announcement. Earnings Eneti beat estimated earnings by 81.48%, reporting an EPS of $0.49 versus an estimate of $0.27. Revenue was down $16.00 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.02 which was followed by a 1.75% increase in the share price the next day. Here's a look at Eneti's past performance: Quarter Q2 2023 Q1 2023 Q4 2022 Q3 2022 EPS Estimate 0.06 -0.86 -0.15 0.71 EPS Actual 0.08 -0.48 0.32 0.73 Revenue Estimate 38.98M 12.32M 33.04M 63.78M Revenue Actual 38.85M 13.8