Golar LNG Partners LP (GMLP) Expected to Post Quarterly Sales of $100.79 Million
Wall Street analysts predict that Golar LNG Partners LP (NASDAQ:GMLP) will announce $100.79 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Golar LNG Partners’ earnings, with the lowest sales estimate coming in at $97.52 million and the highest estimate coming in at $109.7 million. Golar LNG Partners reported sales of $101.07 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.3%. The company is expected to announce its next earnings results before the market opens on Wednesday, May 31st.
According to Zacks, analysts expect that Golar LNG Partners will report full-year sales of $100.79 million for the current financial year, with estimates ranging from $394.26 million to $474.1 million. For the next financial year, analysts anticipate that the firm will post sales of $441.1 million per share, with estimates ranging from $389.89 million to $501.82 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings data on Tuesday, February 28th. The shipping company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.41. The business had revenue of $114.94 million for the quarter, compared to analyst estimates of $115.30 million. Golar LNG Partners had a return on equity of 27.10% and a net margin of 35.76%.
Several equities research analysts have recently weighed in on GMLP shares. Zacks Investment Research lowered Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, February 1st. Jefferies Group LLC increased their price target on Golar LNG Partners from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st.
A number of hedge funds and other institutional investors have recently made changes to their positions in GMLP. Bronfman E.L. Rothschild L.P. boosted its stake in Golar LNG Partners by 21.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,035 shares of the shipping company’s stock worth $112,000 after buying an additional 890 shares during the last quarter. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Golar LNG Partners during the first quarter valued at $201,000. Alliancebernstein L.P. acquired a new stake in shares of Golar LNG Partners during the first quarter valued at $216,000. HighTower Advisors LLC acquired a new stake in shares of Golar LNG Partners during the first quarter valued at $222,000. Finally, Cetera Advisors LLC acquired a new stake in shares of Golar LNG Partners during the third quarter valued at $211,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
Golar LNG Partners (NASDAQ:GMLP) traded down 0.15% during mid-day trading on Friday, hitting $20.32. The company had a trading volume of 125,225 shares. The company’s 50 day moving average price is $21.74 and its 200-day moving average price is $22.36. The company has a market cap of $1.33 billion, a PE ratio of 7.44 and a beta of 1.03. Golar LNG Partners has a one year low of $16.21 and a one year high of $25.82.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, May 5th were given a dividend of $0.5775 per share. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $2.31 annualized dividend and a yield of 11.37%. Golar LNG Partners’s dividend payout ratio is currently 78.04%.
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About Golar LNG Partners
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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