Golar LNG Limited to Post Q3 2017 Earnings of ($0.38) Per Share, Jefferies Group Forecasts (GLNG)
Golar LNG Limited (NASDAQ:GLNG) – Jefferies Group cut their Q3 2017 earnings estimates for shares of Golar LNG Limited in a research note issued on Thursday. Jefferies Group analyst D. Mavrinac now expects that the shipping company will post earnings of ($0.38) per share for the quarter, down from their previous forecast of ($0.36). Jefferies Group also issued estimates for Golar LNG Limited’s Q4 2017 earnings at ($0.29) EPS and FY2017 earnings at ($1.57) EPS.
Golar LNG Limited (NASDAQ:GLNG) last released its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.11). The firm had revenue of $28.41 million during the quarter, compared to analysts’ expectations of $17.03 million. Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%.
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A number of other research analysts also recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $31.00 target price (down previously from $32.00) on shares of Golar LNG Limited in a research note on Friday, September 1st. Cowen and Company restated an “outperform” rating and issued a $45.00 target price on shares of Golar LNG Limited in a research note on Thursday, August 31st. ValuEngine downgraded Golar LNG Limited from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and issued a $36.00 target price on shares of Golar LNG Limited in a research note on Wednesday, July 5th. Finally, Citigroup Inc. lowered their target price on Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Golar LNG Limited currently has a consensus rating of “Hold” and a consensus target price of $34.67.
Golar LNG Limited (NASDAQ GLNG) opened at 21.28 on Monday. The stock has a 50 day moving average price of $21.77 and a 200-day moving average price of $23.35. Golar LNG Limited has a 12-month low of $19.94 and a 12-month high of $29.18. The stock’s market capitalization is $2.09 billion.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its stake 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 acquiring an additional 2,589 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Golar LNG Limited by 19.3% during the 2nd quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock worth $145,000 after acquiring an additional 1,054 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Golar LNG Limited by 104.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after acquiring an additional 3,850 shares in the last quarter. Seven Eight Capital LP boosted its stake in shares of Golar LNG Limited by 745.6% during the 2nd quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock worth $197,000 after acquiring an additional 7,821 shares in the last quarter. Finally, Capital Management Associates NY bought a new stake in shares of Golar LNG Limited during the 2nd quarter worth about $211,000. Institutional investors own 87.91% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend 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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