Golar LNG Limited (GLNG) Expected to Post Quarterly Sales of $71.91 Million

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.

See Also: How are Outstanding Shares Different from Authorized Shares?

Get a free copy of the Zacks research report on Golar LNG (GLNG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Golar LNG (NASDAQ:GLNG)

Receive News & Ratings for Golar LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply