Golar LNG Limited (GLNG) Receives $36.40 Consensus Target Price from Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given a consensus rating of “Buy” by the thirteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $36.40.

GLNG has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Jefferies Financial Group set a $40.00 price objective on shares of Golar LNG and gave the company a “buy” rating in a research report on Wednesday, August 22nd. BidaskClub downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Deutsche Bank initiated coverage on shares of Golar LNG in a research report on Wednesday, October 10th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Berenberg Bank initiated coverage on shares of Golar LNG in a research report on Thursday, September 6th. They set a “buy” rating and a $32.00 price objective on the stock.

Golar LNG stock opened at $28.70 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.62 and a current ratio of 0.62. Golar LNG has a fifty-two week low of $21.37 and a fifty-two week high of $35.54.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Thursday, August 23rd. The shipping company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.19). Golar LNG had a negative return on equity of 6.37% and a negative net margin of 11.47%. The firm had revenue of $59.37 million during the quarter, compared to analysts’ expectations of $63.15 million. As a group, sell-side analysts predict that Golar LNG will post -1.11 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC bought a new stake in Golar LNG in the second quarter worth approximately $106,000. Nisa Investment Advisors LLC grew 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 in the last quarter. Sei Investments Co. grew 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 in the last quarter. Russell Investments Group Ltd. bought a new stake in Golar LNG in the first quarter worth approximately $172,000. Finally, Cerebellum GP LLC bought a new stake in Golar LNG in the third quarter worth approximately $192,000. 82.32% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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