$19.25 Million in Sales Expected for Golar LNG Limited (NASDAQ:GLNG) This Quarter
Analysts predict that Golar LNG Limited (NASDAQ:GLNG) will post sales of $19.25 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Golar LNG Limited’s earnings. The highest sales estimate is $30.12 million and the lowest is $8.12 million. Golar LNG Limited reported sales of $18.37 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The firm is expected to issue its next earnings report on Wednesday, August 30th.
On average, analysts expect that Golar LNG Limited will report full-year sales of $19.25 million for the current financial year, with estimates ranging from $72.90 million to $162.82 million. For the next year, analysts expect that the firm will report sales of $360.71 million per share, with estimates ranging from $287.20 million to $405.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Golar LNG Limited.
Golar LNG Limited (NASDAQ:GLNG) last issued its earnings results on Wednesday, May 31st. The shipping company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by $0.03. Golar LNG Limited had a negative net margin of 228.55% and a negative return on equity of 7.51%. The firm had revenue of $25.11 million during the quarter, compared to the consensus estimate of $17.62 million.
A number of brokerages have weighed in on GLNG. Citigroup Inc. reaffirmed a “buy” rating and set a $28.00 target price (down previously from $29.00) on shares of Golar LNG Limited in a research note on Thursday, June 1st. Zacks Investment Research downgraded shares of Golar LNG Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 target price (down previously from $36.00) on shares of Golar LNG Limited in a research note on Tuesday, June 13th. BidaskClub downgraded shares of Golar LNG Limited from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 10th. Finally, Credit Suisse Group set a $35.00 target price on shares of Golar LNG Limited and gave the company a “buy” rating in a research note on Saturday, March 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $32.75.
Large investors have recently bought and sold shares of the company. Quantbot Technologies LP increased its stake in Golar LNG Limited by 18.0% in the first quarter. Quantbot Technologies LP now owns 3,644 shares of the shipping company’s stock worth $101,000 after buying an additional 557 shares during the period. Sei Investments Co. increased its stake in Golar LNG Limited by 84.1% in the first quarter. Sei Investments Co. now owns 5,457 shares of the shipping company’s stock worth $152,000 after buying an additional 2,493 shares during the period. FNY Managed Accounts LLC bought a new stake in Golar LNG Limited during the first quarter worth approximately $212,000. UBS Asset Management Americas Inc. bought a new stake in Golar LNG Limited during the fourth quarter worth approximately $214,000. Finally, Strs Ohio increased its stake in Golar LNG Limited by 80.0% in the first quarter. Strs Ohio now owns 8,100 shares of the shipping company’s stock worth $226,000 after buying an additional 3,600 shares during the period. 88.99% of the stock is owned by institutional investors and hedge funds.
Shares of Golar LNG Limited (NASDAQ GLNG) opened at 23.29 on Friday. The firm’s 50-day moving average price is $23.95 and its 200-day moving average price is $25.67. Golar LNG Limited has a one year low of $14.96 and a one year high of $29.18. The company’s market capitalization is $2.28 billion.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Friday, June 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Wednesday, June 14th.
Golar LNG Limited Company Profile
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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