Wall Street brokerages expect that Golar LNG Limited (NASDAQ:GLNG) will announce earnings per share of ($0.29) for the current quarter, Zacks reports. Four analysts have issued estimates for Golar LNG’s earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.56). Golar LNG posted earnings per share of ($0.11) during the same quarter last year, which indicates a negative year-over-year growth rate of 163.6%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, November 26th.
According to Zacks, analysts expect that Golar LNG will report full-year earnings of ($1.16) per share for the current year, with EPS estimates ranging from ($1.93) to ($0.78). For the next fiscal year, analysts anticipate that the company will post earnings of $0.63 per share, with EPS estimates ranging from ($0.65) to $1.69. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Golar LNG.
Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 29th. The shipping company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $82.32 million during the quarter, compared to analyst estimates of $85.10 million.
A number of analysts have issued reports on the company. TheStreet downgraded Golar LNG from a “c-” rating to a “d+” rating in a research note on Friday, August 16th. BidaskClub raised Golar LNG from a “sell” rating to a “hold” rating in a research note on Thursday. Scotiabank set a $23.00 target price on Golar LNG and gave the stock a “buy” rating in a research note on Monday, September 30th. ValuEngine raised Golar LNG from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup set a $15.00 target price on Golar LNG and gave the stock a “buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $22.89.
Shares of GLNG traded up $0.03 during midday trading on Monday, reaching $15.38. The company had a trading volume of 678,900 shares, compared to its average volume of 1,134,006. Golar LNG has a 1-year low of $11.07 and a 1-year high of $30.29. The stock has a market cap of $1.55 billion, a PE ratio of -40.47 and a beta of 0.80. The firm has a 50 day simple moving average of $13.68 and a 200-day simple moving average of $16.29. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.95.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLNG. Capital Bank & Trust Co purchased a new position in shares of Golar LNG during the 2nd quarter worth $43,000. Resources Investment Advisors LLC. purchased a new position in shares of Golar LNG during the 2nd quarter worth $55,000. Nisa Investment Advisors LLC grew 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 worth $64,000 after purchasing an additional 3,000 shares during the period. Aperio Group LLC purchased a new position in shares of Golar LNG during the 2nd quarter worth $92,000. Finally, Advisor Group Inc. grew 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 worth $103,000 after purchasing an additional 2,568 shares during the period. Institutional investors and hedge funds 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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