Analysts Expect Golar LNG Limited (GLNG) Will Post Earnings of -$0.38 Per Share
Brokerages expect that Golar LNG Limited (NASDAQ:GLNG) will post earnings per share (EPS) of ($0.38) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Golar LNG Limited’s earnings. The lowest EPS estimate is ($0.39) and the highest is ($0.36). Golar LNG Limited reported earnings per share of ($0.44) in the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The company is expected to issue its next earnings report before the market opens on Tuesday, May 30th.
On average, analysts expect that Golar LNG Limited will report full-year earnings of ($1.09) per share for the current fiscal year, with EPS estimates ranging from ($1.48) to ($0.63). For the next fiscal year, analysts forecast that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.42 to $1.16. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Golar LNG Limited.
Golar LNG Limited (NASDAQ:GLNG) last posted its quarterly earnings data on Tuesday, February 28th. The shipping company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.04. The company had revenue of $23.06 million for the quarter, compared to the consensus estimate of $19.39 million. Golar LNG Limited had a negative net margin of 301.27% and a negative return on equity of 7.61%.
A number of brokerages recently commented on GLNG. Zacks Investment Research lowered Golar LNG Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Credit Suisse Group AG set a $35.00 price objective on Golar LNG Limited and gave the stock a “buy” rating in a research report on Saturday, March 18th. TheStreet upgraded Golar LNG Limited from a “d” rating to a “c-” rating in a research report on Thursday, March 2nd. Finally, Nordea Equity Research lowered Golar LNG Limited from a “buy” rating to a “hold” rating in a research report on Friday, January 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $27.00.
Golar LNG Limited (NASDAQ:GLNG) opened at 27.49 on Thursday. Golar LNG Limited has a 12-month low of $14.32 and a 12-month high of $29.18. The stock’s market cap is $2.70 billion. The company has a 50 day moving average of $26.79 and a 200-day moving average of $25.94.
A number of large investors have recently added to or reduced their stakes in the company. Comerica Bank bought a new stake in Golar LNG Limited during the fourth quarter valued at approximately $234,000. Bamco Inc. NY raised its position in shares of Golar LNG Limited by 9.8% in the third quarter. Bamco Inc. NY now owns 189,035 shares of the shipping company’s stock worth $4,008,000 after buying an additional 16,800 shares during the period. Croft Leominster Inc. acquired a new position in shares of Golar LNG Limited during the third quarter worth about $365,000. Encompass Capital Advisors LLC acquired a new position in shares of Golar LNG Limited during the third quarter worth about $9,010,000. Finally, Fernwood Investment Management LLC raised its position in shares of Golar LNG Limited by 27.0% in the third quarter. Fernwood Investment Management LLC now owns 72,900 shares of the shipping company’s stock worth $1,545,000 after buying an additional 15,500 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.
About Golar LNG Limited
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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