Brokerages expect that Golar LNG Partners (NASDAQ:GMLP) will report sales of $76.09 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Golar LNG Partners’ earnings, with the lowest sales estimate coming in at $72.96 million and the highest estimate coming in at $80.10 million. Golar LNG Partners posted sales of $101.39 million in the same quarter last year, which suggests a negative year-over-year growth rate of 25%. The company is scheduled to announce its next quarterly earnings results on Wednesday, May 30th.
According to Zacks, analysts expect that Golar LNG Partners will report full year sales of $76.09 million for the current year, with estimates ranging from $331.76 million to $452.60 million. For the next year, analysts anticipate that the firm will post sales of $413.98 million per share, with estimates ranging from $337.69 million to $498.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last released its earnings results on Wednesday, February 28th. The shipping company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.10. The business had revenue of $90.11 million for the quarter, compared to the consensus estimate of $87.09 million. Golar LNG Partners had a net margin of 29.85% and a return on equity of 17.19%.
GMLP has been the topic of several analyst reports. Zacks Investment Research raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. Bank of America dropped their target price on shares of Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, March 5th. Jefferies Group assumed coverage on shares of Golar LNG Partners in a research report on Monday, December 18th. They issued a “buy” rating and a $26.00 target price on the stock. BidaskClub cut shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Finally, ValuEngine cut shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $23.60.
Several hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG boosted its holdings in shares of Golar LNG Partners by 226.9% during the fourth quarter. Deutsche Bank AG now owns 110,500 shares of the shipping company’s stock worth $2,518,000 after purchasing an additional 76,700 shares during the period. Koch Industries Inc. bought a new stake in Golar LNG Partners during the 4th quarter worth approximately $239,000. Arrowstreet Capital Limited Partnership increased its stake in Golar LNG Partners by 43.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 159,098 shares of the shipping company’s stock worth $3,627,000 after purchasing an additional 48,191 shares in the last quarter. BlackRock Inc. increased its stake in Golar LNG Partners by 67.1% during the 4th quarter. BlackRock Inc. now owns 150,648 shares of the shipping company’s stock worth $3,434,000 after purchasing an additional 60,476 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Golar LNG Partners by 47.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,541 shares of the shipping company’s stock worth $446,000 after purchasing an additional 6,300 shares in the last quarter. Institutional investors and hedge funds own 43.99% of the company’s stock.
Shares of Golar LNG Partners stock traded down $0.08 during trading on Wednesday, hitting $17.03. The stock had a trading volume of 226,458 shares, compared to its average volume of 370,099. The company has a market cap of $1,218.10, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.73 and a quick ratio of 1.71. Golar LNG Partners has a 1 year low of $16.78 and a 1 year high of $23.49.
Golar LNG Partners announced that its board has approved a stock repurchase program on Monday, March 5th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the shipping company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
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Golar LNG Partners Company Profile
Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.
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