Zacks: Brokerages Expect Golar LNG Limited (GLNG) to Announce -$0.39 EPS
Wall Street analysts predict that Golar LNG Limited (NASDAQ:GLNG) will report earnings of ($0.39) per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Golar LNG Limited’s earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.34). Golar LNG Limited posted earnings per share of ($0.48) in the same quarter last year, which would indicate a positive year over year growth rate of 18.8%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 30th.
On average, analysts expect that Golar LNG Limited will report full year earnings of ($1.49) per share for the current year, with EPS estimates ranging from ($1.91) to ($1.20). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.38 per share, with EPS estimates ranging from ($0.21) to $0.65. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Golar LNG Limited.
Golar LNG Limited (NASDAQ:GLNG) last announced its quarterly earnings results on Wednesday, May 31st. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by $0.03. The firm had revenue of $25.11 million during the quarter, compared to analysts’ expectations of $17.62 million. Golar LNG Limited had a negative return on equity of 7.51% and a negative net margin of 228.55%.
GLNG has been the topic of a number of research analyst reports. Zacks Investment Research cut Golar LNG Limited from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Cowen and Company reissued an “outperform” rating and issued a $45.00 price target on shares of Golar LNG Limited in a report on Friday, June 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price target on shares of Golar LNG Limited in a report on Wednesday, July 5th. Morgan Stanley reissued an “overweight” rating and issued a $32.00 price target (down from $36.00) on shares of Golar LNG Limited in a report on Tuesday, June 13th. Finally, BidaskClub cut Golar LNG Limited from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.75.
Institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank bought a new position in Golar LNG Limited during the fourth quarter valued at $234,000. State Street Corp increased its position in shares of Golar LNG Limited by 11.2% in the fourth quarter. State Street Corp now owns 1,583,895 shares of the shipping company’s stock valued at $36,339,000 after buying an additional 159,581 shares during the period. Tudor Investment Corp Et Al acquired a new position in shares of Golar LNG Limited during the fourth quarter valued at approximately $314,000. Guggenheim Capital LLC increased its position in shares of Golar LNG Limited by 67.8% in the fourth quarter. Guggenheim Capital LLC now owns 100,687 shares of the shipping company’s stock valued at $2,310,000 after buying an additional 40,672 shares during the period. Finally, Norges Bank acquired a new position in shares of Golar LNG Limited during the fourth quarter valued at approximately $17,247,000. 89.03% of the stock is currently owned by hedge funds and other institutional investors.
Golar LNG Limited (NASDAQ GLNG) traded down 0.69% on Friday, hitting $23.13. 442,560 shares of the company traded hands. The firm’s 50 day moving average price is $23.95 and its 200 day moving average price is $25.67. Golar LNG Limited has a 1-year low of $15.09 and a 1-year high of $29.18. The firm’s market capitalization is $2.27 billion.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Wednesday, June 14th.
Golar LNG Limited Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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