Flex LNG Ltd. to Issue Quarterly Dividend of $0.75 (NYSE:FLNG)

Flex LNG Ltd. (NYSE:FLNG) announced a quarterly dividend on Wednesday, February 11th. Investors of record on Friday, February 27th will be given a dividend of 0.75 per share on Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Friday, February 27th.

Flex LNG has raised its dividend payment by an average of 1.1%annually over the last three years. Flex LNG has a dividend payout ratio of 137.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Flex LNG to earn $2.12 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 141.5%.

Flex LNG Stock Performance

Shares of FLNG stock opened at $26.01 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.05 and a current ratio of 3.10. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 14.21 and a beta of 0.32. Flex LNG has a one year low of $19.46 and a one year high of $27.67. The company has a 50 day moving average price of $25.77 and a 200 day moving average price of $25.71.

Flex LNG (NYSE:FLNG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.18). The company had revenue of $87.50 million during the quarter, compared to analyst estimates of $86.75 million. Flex LNG had a net margin of 28.06% and a return on equity of 14.04%. Sell-side analysts anticipate that Flex LNG will post 1.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research note on Monday, December 22nd. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.