Brokerages expect that Golar LNG Limited (NASDAQ:GLNG) will report $71.91 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Golar LNG’s earnings, with the highest sales estimate coming in at $106.70 million and the lowest estimate coming in at $45.75 million. Golar LNG posted sales of $32.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 121.7%. The firm is expected to report its next quarterly earnings report on Thursday, November 29th.
According to Zacks, analysts expect that Golar LNG will report full-year sales of $245.94 million for the current year, with estimates ranging from $171.16 million to $318.20 million. For the next financial year, analysts forecast that the company will report sales of $376.14 million per share, with estimates ranging from $219.17 million to $537.39 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Golar LNG.
Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, August 23rd. The shipping company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.19). Golar LNG had a negative net margin of 11.47% and a negative return on equity of 6.37%. The company had revenue of $59.37 million for the quarter, compared to analyst estimates of $63.15 million.
GLNG has been the subject of a number of research reports. ValuEngine upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. BidaskClub cut shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Saturday, May 26th. Bank of America cut shares of Golar LNG from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $31.00 to $30.00 in a report on Thursday, July 12th. BTIG Research initiated coverage on shares of Golar LNG in a report on Wednesday, July 18th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Golar LNG presently has a consensus rating of “Buy” and a consensus price target of $36.50.
Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in Golar LNG in the 1st quarter valued at $172,000. Sit Investment Associates Inc. raised its position in Golar LNG by 386.4% in the 2nd quarter. Sit Investment Associates Inc. now owns 92,425 shares of the shipping company’s stock valued at $2,723,000 after purchasing an additional 73,425 shares during the last quarter. Maso Capital Partners Ltd purchased a new stake in Golar LNG in the 1st quarter valued at $1,423,000. Bank of Montreal Can raised its position in Golar LNG by 6,638.0% in the 2nd quarter. Bank of Montreal Can now owns 76,813 shares of the shipping company’s stock valued at $2,263,000 after purchasing an additional 75,673 shares during the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in Golar LNG in the 2nd quarter valued at $214,000. Institutional investors and hedge funds own 82.87% of the company’s stock.
Shares of GLNG opened at $25.23 on Friday. Golar LNG has a 1-year low of $19.32 and a 1-year high of $35.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.62 and a quick ratio of 0.62.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Thursday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Wednesday, September 5th. This is an increase from Golar LNG’s previous quarterly dividend of $0.05. Golar LNG’s payout ratio is currently -34.01%.
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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