FLEX LNG (NYSE:FLNG) Issues Earnings Results

FLEX LNG (NYSE:FLNG) posted its quarterly earnings results on Tuesday. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06, Zacks reports. FLEX LNG had a return on equity of 16.27% and a net margin of 25.33%.

FLEX LNG Stock Up 0.9 %

Shares of NYSE FLNG opened at $25.74 on Tuesday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 15.14 and a beta of 0.70. FLEX LNG has a 1 year low of $20.85 and a 1 year high of $30.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. The stock’s 50-day simple moving average is $23.81 and its 200-day simple moving average is $25.15.

FLEX LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 27th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 11.66%. The ex-dividend date of this dividend was Wednesday, November 27th. FLEX LNG’s dividend payout ratio (DPR) is 176.47%.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “hold” rating and set a $23.00 price target on shares of FLEX LNG in a research note on Tuesday.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.