Wall Street brokerages forecast that Golar LNG Partners LP (NASDAQ:GMLP) will report $76.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Golar LNG Partners’ earnings, with the lowest sales estimate coming in at $72.96 million and the highest estimate coming in at $80.10 million. Golar LNG Partners posted sales of $101.39 million in the same quarter last year, which suggests a negative year over year growth rate of 25%. The company is expected to issue its next quarterly earnings results on Wednesday, May 30th.
According to Zacks, analysts expect that Golar LNG Partners will report full-year sales of $76.09 million for the current fiscal year, with estimates ranging from $331.76 million to $452.60 million. For the next fiscal year, analysts forecast that the firm will report sales of $413.98 million per share, with estimates ranging from $337.69 million to $498.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Monday, December 11th. The shipping company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The firm had revenue of $105.64 million for the quarter, compared to the consensus estimate of $96.00 million. Golar LNG Partners had a return on equity of 17.19% and a net margin of 29.85%.
A number of research firms recently weighed in on GMLP. Zacks Investment Research raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Bank of America decreased their target price on shares of Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, March 5th. BidaskClub raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Friday, February 9th. ValuEngine lowered shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Jefferies Group began coverage on shares of Golar LNG Partners in a report on Monday, December 18th. They issued a “buy” rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.60.
Golar LNG Partners (GMLP) traded down $0.12 during trading on Friday, reaching $17.95. 773,310 shares of the company were exchanged, compared to its average volume of 353,501. The company has a quick ratio of 1.71, a current ratio of 1.73 and a debt-to-equity ratio of 1.63. The company has a market cap of $1,240.00, a price-to-earnings ratio of 9.55, a PEG ratio of 1.77 and a beta of 0.92. Golar LNG Partners has a twelve month low of $17.31 and a twelve month high of $23.49.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were issued a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a dividend yield of 12.87%. The ex-dividend date of this dividend was Tuesday, February 6th. Golar LNG Partners’s payout ratio is 122.87%.
Golar LNG Partners declared that its Board of Directors has approved a share buyback program on Monday, March 5th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the shipping company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently modified their holdings of the company. Alliancebernstein L.P. increased its holdings in shares of Golar LNG Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock worth $205,000 after buying an additional 572 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Golar LNG Partners by 2.1% in the 4th quarter. Wells Fargo & Company MN now owns 130,671 shares of the shipping company’s stock worth $2,978,000 after buying an additional 2,631 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Golar LNG Partners by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 154,810 shares of the shipping company’s stock worth $3,530,000 after buying an additional 2,679 shares during the last quarter. BNP Paribas Arbitrage SA bought a new position in shares of Golar LNG Partners in the 3rd quarter worth $108,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Golar LNG Partners in the 4th quarter worth $107,000. 44.01% of the stock is currently owned by hedge funds and other institutional investors.
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Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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