Flex LNG Ltd. (FLNG) To Go Ex-Dividend on September 3rd

Flex LNG Ltd. (NYSE:FLNG) declared a quarterly dividend on Tuesday, August 18th. Investors of record on Thursday, September 3rd will be given a dividend of 0.75 per share on Thursday, September 17th. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Thursday, September 3rd.

Flex LNG has increased its dividend by an average of 0.8%per year over the last three years. Flex LNG has a dividend payout ratio of 137.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Flex LNG Price Performance

FLNG opened at $31.67 on Tuesday. Flex LNG has a 52-week low of $24.00 and a 52-week high of $33.40. The company has a 50 day moving average of $30.59 and a two-hundred day moving average of $30.27. The company has a market cap of $1.71 billion, a P/E ratio of 16.67 and a beta of 0.20. The company has a quick ratio of 2.64, a current ratio of 2.69 and a debt-to-equity ratio of 2.40.

Flex LNG (NYSE:FLNG) last issued its earnings results on Wednesday, August 19th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.17. Flex LNG had a net margin of 28.50% and a return on equity of 14.88%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $93.53 million.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Flex LNG from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Wall Street Zen raised Flex LNG from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Kepler Capital Markets set a $25.00 price objective on shares of Flex LNG and gave the company a “reduce” rating in a research report on Thursday, May 14th. Finally, Pareto Securities cut shares of Flex LNG from a “buy” rating to a “sell” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Flex LNG presently has an average rating of “Reduce” and an average price target of $25.00.

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.