Equities analysts expect Golar LNG Limited (NASDAQ:GLNG) to post $62.95 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Golar LNG’s earnings, with the highest sales estimate coming in at $82.50 million and the lowest estimate coming in at $46.50 million. Golar LNG posted sales of $28.41 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 121.6%. The firm is scheduled to issue its next earnings report on Wednesday, August 29th.
On average, analysts expect that Golar LNG will report full year sales of $320.31 million for the current year, with estimates ranging from $244.50 million to $401.83 million. For the next financial year, analysts anticipate that the company will post sales of $465.17 million per share, with estimates ranging from $325.30 million to $561.59 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Golar LNG.
Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, May 31st. The shipping company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.04). The business had revenue of $66.19 million during the quarter, compared to analyst estimates of $60.45 million. Golar LNG had a negative net margin of 73.05% and a negative return on equity of 7.10%.
Several research firms have issued reports on GLNG. BidaskClub raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley set a $31.00 price target on shares of Golar LNG and gave the stock a “buy” rating in a research note on Friday, June 1st. Citigroup decreased their target price on shares of Golar LNG from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, June 1st. ValuEngine raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. Finally, Zacks Investment Research cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.60.
Golar LNG traded up $0.21, reaching $27.35, during trading hours on Monday, according to MarketBeat. The company’s stock had a trading volume of 1,021,596 shares, compared to its average volume of 1,297,761. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -18.61 and a beta of 0.68. Golar LNG has a fifty-two week low of $19.32 and a fifty-two week high of $35.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.62.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Thursday, June 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. Golar LNG’s dividend payout ratio is presently -13.61%.
A number of hedge funds and other institutional investors have recently bought and sold shares of GLNG. First Mercantile Trust Co. raised its stake in shares of Golar LNG by 92.8% during the first quarter. First Mercantile Trust Co. now owns 5,101 shares of the shipping company’s stock valued at $140,000 after purchasing an additional 2,455 shares during the period. Strs Ohio purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $146,000. Russell Investments Group Ltd. purchased a new stake in shares of Golar LNG during the first quarter valued at approximately $172,000. First Trust Advisors LP purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $201,000. Finally, Raymond James & Associates purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $210,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
Golar LNG Company Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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