Equities analysts expect Hoegh LNG Partners LP (NASDAQ:HMLP) to report sales of $32.96 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Hoegh LNG Partners’ earnings. The highest sales estimate is $36.71 million and the lowest is $29.20 million. Hoegh LNG Partners posted sales of $23.35 million in the same quarter last year, which indicates a positive year over year growth rate of 41.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 16th.
On average, analysts expect that Hoegh LNG Partners will report full-year sales of $32.96 million for the current year, with estimates ranging from $116.10 million to $142.58 million. For the next fiscal year, analysts forecast that the firm will post sales of $140.50 million per share, with estimates ranging from $124.80 million to $155.76 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Hoegh LNG Partners.
Hoegh LNG Partners (NASDAQ:HMLP) last posted its quarterly earnings data on Thursday, August 24th. The shipping company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.08). Hoegh LNG Partners had a return on equity of 13.48% and a net margin of 34.87%. The business had revenue of $35.02 million during the quarter, compared to analysts’ expectations of $31.94 million.
A number of analysts have commented on the company. TheStreet raised Hoegh LNG Partners from a “d” rating to a “c+” rating in a report on Monday, August 7th. Zacks Investment Research raised Hoegh LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub lowered Hoegh LNG Partners from a “sell” rating to a “strong sell” rating in a report on Friday, October 6th. Barclays PLC raised Hoegh LNG Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 18th. Finally, ValuEngine upgraded Hoegh LNG Partners from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $21.63.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Thursday, November 2nd will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of Infinity.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its position in Hoegh LNG Partners by 3.3% during the second quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after purchasing an additional 591 shares in the last quarter. FMR LLC lifted its position in Hoegh LNG Partners by 2.5% during the second quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock valued at $27,730,000 after purchasing an additional 35,806 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Hoegh LNG Partners by 341.5% during the second quarter. Acrospire Investment Management LLC now owns 5,219 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 4,037 shares in the last quarter. Bard Associates Inc. purchased a new position in Hoegh LNG Partners during the second quarter valued at $321,000. Finally, Kayne Anderson Capital Advisors LP lifted its position in Hoegh LNG Partners by 1.9% during the second quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock valued at $43,988,000 after purchasing an additional 43,400 shares in the last quarter.
About Hoegh LNG Partners
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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