Flex LNG Ltd. (NYSE:FLNG – Get Free Report) declared a quarterly dividend on Tuesday, May 12th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.75 per share on Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend is Friday, May 29th.
Flex LNG has raised its dividend payment by an average of 0.8%annually over the last three years. Flex LNG has a payout ratio of 137.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Flex LNG Stock Performance
Shares of FLNG stock opened at $31.75 on Thursday. The stock’s 50-day moving average is $30.57 and its two-hundred day moving average is $27.64. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 22.84 and a beta of 0.20. Flex LNG has a 1 year low of $21.72 and a 1 year high of $33.40. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.98 and a current ratio of 3.04.
Analysts Set New Price Targets
FLNG has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Flex LNG in a research note on Friday, April 10th. Pareto Securities downgraded shares of Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday. Wall Street Zen downgraded shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Kepler Capital Markets set a $25.00 target price on shares of Flex LNG in a research note on Thursday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $24.00.
View Our Latest Stock Analysis on FLNG
Flex LNG Company Profile
Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.
The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.
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