Golar LNG Partners LP (NASDAQ:GMLP) Expected to Announce Quarterly Sales of $69.95 Million

Equities research analysts expect Golar LNG Partners LP (NASDAQ:GMLP) to post $69.95 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Golar LNG Partners’ earnings, with the highest sales estimate coming in at $72.50 million and the lowest estimate coming in at $65.24 million. Golar LNG Partners posted sales of $75.74 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.6%. The business is expected to report its next quarterly earnings report on Wednesday, September 2nd.

On average, analysts expect that Golar LNG Partners will report full-year sales of $275.95 million for the current year, with estimates ranging from $265.38 million to $286.51 million. For the next fiscal year, analysts expect that the firm will post sales of $282.19 million, with estimates ranging from $275.16 million to $287.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Golar LNG Partners.

Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported ($0.48) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.67). Golar LNG Partners had a negative net margin of 0.11% and a positive return on equity of 11.21%. The company had revenue of $67.63 million during the quarter, compared to analyst estimates of $70.45 million.

GMLP has been the subject of several recent research reports. B. Riley cut their price target on Golar LNG Partners from $10.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. BidaskClub cut Golar LNG Partners from a “sell” rating to a “strong sell” rating in a report on Friday, March 6th. Stifel Nicolaus lowered their price objective on Golar LNG Partners from $14.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Zacks Investment Research lowered Golar LNG Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, ValuEngine lowered Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.29.

NASDAQ:GMLP opened at $2.60 on Wednesday. Golar LNG Partners has a one year low of $1.30 and a one year high of $12.11. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.47 and a current ratio of 0.49. The stock has a market cap of $176.72 million, a PE ratio of -52.00, a P/E/G ratio of 0.44 and a beta of 0.95. The stock has a 50 day moving average price of $2.59 and a 200 day moving average price of $4.56.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Golar LNG Partners by 207.7% in the fourth quarter. Renaissance Technologies LLC now owns 660,400 shares of the shipping company’s stock valued at $5,838,000 after acquiring an additional 445,800 shares in the last quarter. Morgan Stanley raised its stake in shares of Golar LNG Partners by 48.0% in the first quarter. Morgan Stanley now owns 437,595 shares of the shipping company’s stock valued at $1,470,000 after acquiring an additional 141,833 shares in the last quarter. Muhlenkamp & Co. Inc. raised its stake in shares of Golar LNG Partners by 9.1% in the fourth quarter. Muhlenkamp & Co. Inc. now owns 259,350 shares of the shipping company’s stock valued at $2,293,000 after acquiring an additional 21,730 shares in the last quarter. UBS Group AG raised its stake in shares of Golar LNG Partners by 16.1% in the first quarter. UBS Group AG now owns 177,137 shares of the shipping company’s stock valued at $595,000 after acquiring an additional 24,504 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Golar LNG Partners by 872.3% in the first quarter. GSA Capital Partners LLP now owns 130,284 shares of the shipping company’s stock valued at $438,000 after acquiring an additional 116,885 shares in the last quarter. Institutional investors and hedge funds own 29.13% of the company’s stock.

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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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