Golar LNG Limited (NASDAQ:GLNG) Expected to Post Earnings of -$0.40 Per Share
Equities analysts forecast that Golar LNG Limited (NASDAQ:GLNG) will announce ($0.40) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Golar LNG Limited’s earnings, with the lowest EPS estimate coming in at ($0.46) and the highest estimate coming in at ($0.34). Golar LNG Limited posted earnings of ($0.48) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 30th.
On average, analysts expect that Golar LNG Limited will report full year earnings of ($1.54) per share for the current fiscal year, with EPS estimates ranging from ($1.91) to ($1.20). For the next fiscal year, analysts forecast that the business will report earnings of $0.37 per share, with EPS estimates ranging from ($0.21) to $0.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Golar LNG Limited.
Golar LNG Limited (NASDAQ:GLNG) last released its earnings results on Wednesday, May 31st. The shipping company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.03. Golar LNG Limited had a negative return on equity of 7.51% and a negative net margin of 228.55%. The company had revenue of $25.11 million for the quarter, compared to analyst estimates of $17.62 million.
GLNG has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price objective on shares of Golar LNG Limited in a research report on Wednesday, July 5th. Citigroup Inc. reissued a “buy” rating and issued a $28.00 price objective (down from $29.00) on shares of Golar LNG Limited in a research report on Thursday, June 1st. Zacks Investment Research raised Golar LNG Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company reissued an “outperform” rating and issued a $45.00 price objective on shares of Golar LNG Limited in a research report on Friday, June 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $32.00 price objective (down from $36.00) on shares of Golar LNG Limited in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Golar LNG Limited has a consensus rating of “Buy” and a consensus price target of $34.43.
Institutional investors have recently bought and sold shares of the company. Comerica Bank increased its position in Golar LNG Limited by 1.1% in the first quarter. Comerica Bank now owns 9,250 shares of the shipping company’s stock worth $239,000 after buying an additional 105 shares during the period. Norges Bank bought a new position in shares of Golar LNG Limited during the fourth quarter worth approximately $17,247,000. Legal & General Group Plc increased its position in shares of Golar LNG Limited by 2.1% in the first quarter. Legal & General Group Plc now owns 88,452 shares of the shipping company’s stock worth $2,471,000 after buying an additional 1,859 shares during the last quarter. Bank of America Corp DE increased its position in shares of Golar LNG Limited by 38.9% in the first quarter. Bank of America Corp DE now owns 843,820 shares of the shipping company’s stock worth $23,568,000 after buying an additional 236,435 shares during the last quarter. Finally, DnB Asset Management AS bought a new position in shares of Golar LNG Limited during the first quarter worth approximately $1,542,000. Institutional investors and hedge funds own 88.96% of the company’s stock.
Golar LNG Limited (NASDAQ GLNG) traded down 1.65% on Friday, reaching $21.43. The company had a trading volume of 604,250 shares. The firm has a 50-day moving average of $22.65 and a 200-day moving average of $25.57. Golar LNG Limited has a 12 month low of $17.73 and a 12 month high of $29.18. The stock’s market capitalization is $2.10 billion.
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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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