Golar LNG Limited (NASDAQ:GLNG) – Equities researchers at Seaport Global Securities lowered their Q3 2018 earnings per share (EPS) estimates for shares of Golar LNG in a research note issued on Thursday, August 23rd. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings per share of $0.12 for the quarter, down from their previous forecast of $0.13. Seaport Global Securities also issued estimates for Golar LNG’s Q4 2018 earnings at $0.15 EPS, Q3 2019 earnings at $0.18 EPS and Q4 2019 earnings at $0.34 EPS.
A number of other research firms have also weighed in on GLNG. BidaskClub raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Thursday, June 7th. Bank of America lowered shares of Golar LNG from a “buy” rating to a “neutral” rating and dropped their price target for the company from $31.00 to $30.00 in a research report on Thursday, July 12th. BTIG Research initiated coverage on shares of Golar LNG in a research report on Wednesday, July 18th. They set a “buy” rating and a $35.00 price target on the stock. Zacks Investment Research lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, ValuEngine raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.14.
Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, May 31st. The shipping company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The business had revenue of $66.19 million for the quarter, compared to analyst estimates of $60.45 million. Golar LNG had a negative net margin of 11.47% and a negative return on equity of 6.37%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GLNG. Mount Yale Investment Advisors LLC bought a new stake in Golar LNG in the second quarter worth about $106,000. Nisa Investment Advisors LLC raised its position in Golar LNG by 884.2% in the second quarter. Nisa Investment Advisors LLC now owns 4,675 shares of the shipping company’s stock worth $138,000 after acquiring an additional 4,200 shares during the period. First Mercantile Trust Co. raised its position in Golar LNG by 92.8% in the first quarter. First Mercantile Trust Co. now owns 5,101 shares of the shipping company’s stock worth $140,000 after acquiring an additional 2,455 shares during the period. Sei Investments Co. raised its position in Golar LNG by 104.5% in the second quarter. Sei Investments Co. now owns 5,326 shares of the shipping company’s stock worth $156,000 after acquiring an additional 2,721 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Golar LNG in the first quarter worth about $172,000. 83.31% of the stock is currently owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Thursday, September 6th will be given a dividend of $0.125 per share. This is a positive change from Golar LNG’s previous quarterly dividend of $0.05. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, September 5th. Golar LNG’s dividend payout ratio (DPR) is presently -13.61%.
Golar LNG Company Profile
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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