Golar LNG Partners (NASDAQ:GMLP) announced that its Board of Directors has approved a share repurchase program, which allows the company to repurchase $25.00 million in shares on Monday, March 5th, EventVestor reports. This repurchase authorization allows the shipping company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Golar LNG Partners (GMLP) opened at $19.07 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.71 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $1,320.00, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.82 and a beta of 0.92. Golar LNG Partners has a 52-week low of $18.49 and a 52-week high of $23.49.
Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings data on Monday, December 11th. The shipping company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $105.64 million for the quarter, compared to analysts’ expectations of $96.00 million. Golar LNG Partners had a net margin of 29.85% and a return on equity of 17.19%. equities research analysts forecast that Golar LNG Partners will post 1.16 EPS for the current fiscal year.
A number of brokerages recently commented on GMLP. Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub lowered Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Bank of America dropped their price target on Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Seaport Global Securities reaffirmed a “hold” rating and issued a $21.00 price target on shares of Golar LNG Partners in a research note on Tuesday, February 27th. Finally, ValuEngine lowered Golar LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Golar LNG Partners presently has an average rating of “Hold” and an average target price of $23.60.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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