B. Riley Has Bearish Estimate for Golar LNG Q3 Earnings

Golar LNG Limited (NASDAQ:GLNG) – Stock analysts at B. Riley reduced their Q3 2024 earnings estimates for Golar LNG in a research report issued on Tuesday, November 12th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $0.02 per share for the quarter, down from their prior forecast of $0.33. B. Riley has a “Buy” rating and a $44.50 price target on the stock. The consensus estimate for Golar LNG’s current full-year earnings is $1.53 per share. B. Riley also issued estimates for Golar LNG’s FY2024 earnings at $1.09 EPS and FY2025 earnings at $1.31 EPS.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The company had revenue of $62.98 million for the quarter, compared to analysts’ expectations of $67.38 million.

Several other equities analysts have also commented on the stock. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus dropped their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Stock Up 0.3 %

Shares of NASDAQ GLNG opened at $34.99 on Friday. Golar LNG has a 12-month low of $19.94 and a 12-month high of $39.40. The stock has a market cap of $3.66 billion, a PE ratio of 26.11 and a beta of 0.58. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $36.13 and a 200 day moving average of $32.37.

Institutional Trading of Golar LNG

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lowe Wealth Advisors LLC acquired a new stake in shares of Golar LNG in the second quarter valued at about $45,000. Blue Trust Inc. increased its holdings in Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 703 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Golar LNG during the 3rd quarter valued at about $52,000. EverSource Wealth Advisors LLC increased its holdings in Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 1,163 shares in the last quarter. Finally, CWM LLC increased its holdings in Golar LNG by 830.9% during the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after acquiring an additional 1,479 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Monday, November 25th. Golar LNG’s dividend payout ratio (DPR) is 74.63%.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.