Analysts expect Golar LNG Partners LP (NASDAQ:GMLP) to report sales of $76.09 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Golar LNG Partners’ earnings. The highest sales estimate is $80.10 million and the lowest is $72.96 million. Golar LNG Partners posted sales of $101.39 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 25%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 30th.
On average, analysts expect that Golar LNG Partners will report full year sales of $76.09 million for the current year, with estimates ranging from $331.76 million to $452.60 million. For the next fiscal year, analysts anticipate that the business 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 calculations are an average based on a survey of sell-side analysts that that provide coverage for Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Monday, December 11th. The shipping company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Golar LNG Partners had a return on equity of 17.19% and a net margin of 29.85%. The firm had revenue of $105.64 million for the quarter, compared to the consensus estimate of $96.00 million.
Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Golar LNG Partners by 37.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock worth $15,110,000 after purchasing an additional 181,868 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Golar LNG Partners during the 3rd quarter worth approximately $344,000. Alps Advisors Inc. purchased a new position in Golar LNG Partners in the 3rd quarter valued at approximately $500,000. First Trust Advisors LP grew its stake in Golar LNG Partners by 16.5% in the 4th quarter. First Trust Advisors LP now owns 464,238 shares of the shipping company’s stock valued at $10,585,000 after buying an additional 65,759 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Golar LNG Partners by 15.6% in the 2nd quarter. Northern Trust Corp now owns 62,288 shares of the shipping company’s stock valued at $1,249,000 after buying an additional 8,405 shares in the last quarter. Institutional investors own 44.01% of the company’s stock.
Golar LNG Partners (NASDAQ GMLP) traded down $0.12 during trading on Friday, hitting $18.55. 551,601 shares of the company’s stock traded hands, compared to its average volume of 318,620. Golar LNG Partners has a 1 year low of $18.41 and a 1 year high of $23.49. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.71 and a current ratio of 1.73. The company has a market cap of $1,270.00, a PE ratio of 9.87, a P/E/G ratio of 1.82 and a beta of 0.92.
Golar LNG Partners announced that its Board of Directors has initiated a stock buyback program on Monday, March 5th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the shipping company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were paid a dividend of $0.5775 per share. The ex-dividend date was Tuesday, February 6th. This represents a $2.31 annualized dividend and a dividend yield of 12.45%. Golar LNG Partners’s payout ratio is currently 122.87%.
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About Golar LNG Partners
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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