$129.64 Million in Sales Expected for Golar LNG Limited (GLNG) This Quarter

Wall Street analysts expect that Golar LNG Limited (NASDAQ:GLNG) will post sales of $129.64 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Golar LNG’s earnings, with the highest sales estimate coming in at $146.61 million and the lowest estimate coming in at $117.90 million. Golar LNG posted sales of $57.59 million during the same quarter last year, which indicates a positive year over year growth rate of 125.1%. The firm is expected to issue its next earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that Golar LNG will report full year sales of $316.68 million for the current year, with estimates ranging from $281.12 million to $355.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $505.81 million, with estimates ranging from $368.25 million to $598.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Golar LNG.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Monday, November 5th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.11). Golar LNG had a net margin of 27.87% and a negative return on equity of 4.34%. The company had revenue of $123.10 million for the quarter, compared to the consensus estimate of $86.58 million.

Several research analysts have weighed in on the stock. BidaskClub downgraded shares of Golar LNG from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 13th. Zacks Investment Research restated a “buy” rating and set a $30.00 price objective on shares of Golar LNG in a report on Tuesday, November 13th. Morgan Stanley upped their price objective on shares of Golar LNG from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Jefferies Financial Group set a $40.00 price objective on shares of Golar LNG and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Finally, B. Riley assumed coverage on shares of Golar LNG in a report on Thursday, October 4th. They set a “buy” rating and a $34.00 price objective on the stock. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.91.

Golar LNG stock opened at $25.18 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.62. Golar LNG has a 12-month low of $23.40 and a 12-month high of $35.54. The firm has a market cap of $2.67 billion, a P/E ratio of -17.13 and a beta of 0.62.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.15 per share. This is an increase from Golar LNG’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.60 annualized dividend and a yield of 2.38%. Golar LNG’s dividend payout ratio is presently -34.01%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlueMountain Capital Management LLC acquired a new position in Golar LNG during the second quarter worth $46,072,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Golar LNG by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 292,310 shares of the shipping company’s stock valued at $8,612,000 after purchasing an additional 11,251 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Golar LNG by 3.2% in the second quarter. BlackRock Inc. now owns 4,457,465 shares of the shipping company’s stock valued at $131,317,000 after purchasing an additional 140,201 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Golar LNG by 6,638.0% in the second quarter. Bank of Montreal Can now owns 76,813 shares of the shipping company’s stock valued at $2,263,000 after purchasing an additional 75,673 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Golar LNG by 92.1% in the second quarter. Point72 Asset Management L.P. now owns 259,296 shares of the shipping company’s stock valued at $7,639,000 after purchasing an additional 124,296 shares during the last quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.

About Golar LNG

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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