Wall Street analysts expect that Golar LNG Limited (NASDAQ:GLNG) will post sales of $93.58 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Golar LNG’s earnings, with estimates ranging from $65.00 million to $107.00 million. Golar LNG reported sales of $66.19 million in the same quarter last year, which indicates a positive year over year growth rate of 41.4%. The business is expected to report its next earnings results on Thursday, May 30th.
On average, analysts expect that Golar LNG will report full-year sales of $446.61 million for the current year, with estimates ranging from $335.70 million to $550.13 million. For the next financial year, analysts anticipate that the business will report sales of $549.13 million, with estimates ranging from $436.70 million to $647.12 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Golar LNG.
Several research firms recently commented on GLNG. Zacks Investment Research downgraded Golar LNG from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. BidaskClub downgraded Golar LNG from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Golar LNG in a report on Friday, December 7th. ValuEngine downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, Cowen set a $41.00 target price on Golar LNG and gave the stock a “buy” rating in a research report on Sunday, December 23rd. Two research analysts have rated the stock with a sell rating and thirteen have issued a buy rating to the company. Golar LNG has a consensus rating of “Buy” and an average price target of $33.18.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Thursday, March 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $0.60 annualized dividend and a yield of 2.78%. Golar LNG’s payout ratio is -157.89%.
Large investors have recently made changes to their positions in the business. Frontier Capital Management Co. LLC boosted its position in Golar LNG by 52.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 464,420 shares of the shipping company’s stock worth $10,106,000 after purchasing an additional 160,189 shares during the last quarter. BlackRock Inc. boosted its position in Golar LNG by 1.9% in the third quarter. BlackRock Inc. now owns 4,540,739 shares of the shipping company’s stock worth $126,232,000 after purchasing an additional 83,274 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Golar LNG by 1.8% in the third quarter. Pinnacle Associates Ltd. now owns 448,762 shares of the shipping company’s stock worth $12,476,000 after purchasing an additional 8,060 shares during the last quarter. Capital International Sarl boosted its position in Golar LNG by 28.1% in the third quarter. Capital International Sarl now owns 59,800 shares of the shipping company’s stock worth $1,662,000 after purchasing an additional 13,100 shares during the last quarter. Finally, SCP Investment LP boosted its position in Golar LNG by 16.2% in the third quarter. SCP Investment LP now owns 116,155 shares of the shipping company’s stock worth $3,229,000 after purchasing an additional 16,155 shares during the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.
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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