Golar LNG Limited (GLNG) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Golar LNG Limited (NASDAQ:GLNG) have received a consensus rating of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $34.67.
GLNG has been the subject of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $31.00 price target (down previously from $32.00) on shares of Golar LNG Limited in a research note on Friday, September 1st. Cowen and Company reissued an “outperform” rating and set a $45.00 price objective on shares of Golar LNG Limited in a research report on Thursday, August 31st. ValuEngine cut Golar LNG Limited from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $36.00 price objective on shares of Golar LNG Limited in a research report on Wednesday, July 5th. Finally, Citigroup Inc. cut their price objective on Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 17th.
Several hedge funds and other institutional investors have recently bought and sold shares of GLNG. Quantbot Technologies LP lifted its position in shares of Golar LNG Limited by 71.0% during the 2nd quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock worth $138,000 after purchasing an additional 2,589 shares during the last quarter. Sei Investments Co. raised its holdings in Golar LNG Limited by 19.3% in the 2nd quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock valued at $145,000 after acquiring an additional 1,054 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Golar LNG Limited by 104.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 3,850 shares in the last quarter. Seven Eight Capital LP raised its holdings in Golar LNG Limited by 745.6% in the 2nd quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock valued at $197,000 after acquiring an additional 7,821 shares in the last quarter. Finally, Capital Management Associates NY acquired a new position in Golar LNG Limited in the 2nd quarter valued at approximately $211,000. 87.91% of the stock is owned by institutional investors and hedge funds.
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Golar LNG Limited (GLNG) traded down 0.75% during mid-day trading on Friday, hitting $21.28. The company had a trading volume of 938,175 shares. The company’s 50 day moving average price is $21.77 and its 200-day moving average price is $23.35. Golar LNG Limited has a one year low of $19.94 and a one year high of $29.18. The company’s market cap is $2.09 billion.
Golar LNG Limited (NASDAQ:GLNG) last released its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.11). The company had revenue of $28.41 million for the quarter, compared to the consensus estimate of $17.03 million. Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. Equities research analysts anticipate that Golar LNG Limited will post ($1.92) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Thursday, September 14th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.94%.
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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