Brokerages expect that Golar LNG Limited (NASDAQ:GLNG) will announce $100.53 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Golar LNG’s earnings. The lowest sales estimate is $93.05 million and the highest is $111.09 million. Golar LNG posted sales of $123.10 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.3%. The business is scheduled to report its next earnings results on Monday, November 4th.
On average, analysts expect that Golar LNG will report full year sales of $417.23 million for the current fiscal year, with estimates ranging from $384.74 million to $458.90 million. For the next financial year, analysts forecast that the firm will report sales of $509.46 million, with estimates ranging from $445.76 million to $632.69 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Golar LNG.
Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 29th. The shipping company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.28). Golar LNG had a negative return on equity of 4.26% and a negative net margin of 77.74%. The business had revenue of $82.32 million for the quarter, compared to the consensus estimate of $85.10 million.
A number of equities analysts recently commented on the stock. Bank of America set a $19.00 price objective on shares of Golar LNG and gave the stock a “buy” rating in a research note on Friday, August 30th. B. Riley set a $21.00 price objective on shares of Golar LNG and gave the stock a “buy” rating in a research note on Friday, October 11th. TheStreet lowered shares of Golar LNG from a “c-” rating to a “d+” rating in a research note on Friday, August 16th. Citigroup set a $15.00 price objective on shares of Golar LNG and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Cowen reaffirmed an “outperform” rating and issued a $22.00 price objective (down previously from $30.00) on shares of Golar LNG in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Golar LNG presently has a consensus rating of “Buy” and a consensus price target of $22.89.
Golar LNG stock opened at $15.04 on Wednesday. The company has a 50 day moving average price of $13.22 and a 200 day moving average price of $16.45. Golar LNG has a 52 week low of $11.07 and a 52 week high of $30.29. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -39.58 and a beta of 0.80.
A number of hedge funds have recently added to or reduced their stakes in GLNG. Capital Bank & Trust Co bought a new position in shares of Golar LNG during the 2nd quarter valued at $43,000. Resources Investment Advisors LLC. bought a new position in shares of Golar LNG during the 2nd quarter valued at $55,000. Nisa Investment Advisors LLC raised its holdings in shares of Golar LNG by 674.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,445 shares of the shipping company’s stock valued at $64,000 after purchasing an additional 3,000 shares in the last quarter. Aperio Group LLC bought a new position in shares of Golar LNG during the 2nd quarter valued at $92,000. Finally, Advisor Group Inc. raised its holdings in shares of Golar LNG by 86.2% during the 2nd quarter. Advisor Group Inc. now owns 5,547 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 2,568 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.
About Golar LNG
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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