Analysts forecast that Golar LNG Partners LP (NASDAQ:GMLP) will report sales of $81.17 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Golar LNG Partners’ earnings. The lowest sales estimate is $74.20 million and the highest is $88.10 million. Golar LNG Partners reported sales of $135.97 million in the same quarter last year, which indicates a negative year over year growth rate of 40.3%. The company is expected to issue its next quarterly earnings report on Thursday, August 30th.
According to Zacks, analysts expect that Golar LNG Partners will report full-year sales of $352.02 million for the current fiscal year, with estimates ranging from $327.00 million to $397.70 million. For the next fiscal year, analysts anticipate that the firm will post sales of $364.41 million per share, with estimates ranging from $339.00 million to $426.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings data on Thursday, May 31st. The shipping company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. Golar LNG Partners had a return on equity of 16.74% and a net margin of 29.68%. The company had revenue of $74.21 million during the quarter, compared to the consensus estimate of $77.64 million.
Several equities research analysts recently commented on GMLP shares. Bank of America downgraded Golar LNG Partners from a “buy” rating to an “underperform” rating in a report on Friday, June 1st. Stifel Nicolaus dropped their target price on Golar LNG Partners from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, June 1st. BTIG Research started coverage on Golar LNG Partners in a research report on Wednesday, July 18th. They issued a “neutral” rating on the stock. ValuEngine cut Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Finally, Zacks Investment Research cut Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.00.
A number of large investors have recently made changes to their positions in GMLP. BlackRock Inc. boosted its position in Golar LNG Partners by 67.1% in the fourth 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 during the last quarter. Deutsche Bank AG boosted its position in Golar LNG Partners by 226.9% in 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 last quarter. Wasatch Advisors Inc. boosted its position in Golar LNG Partners by 53.0% in the first quarter. Wasatch Advisors Inc. now owns 30,300 shares of the shipping company’s stock worth $518,000 after purchasing an additional 10,500 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Golar LNG Partners in the first quarter worth about $252,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Golar LNG Partners by 126.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 154,800 shares of the shipping company’s stock worth $2,649,000 after purchasing an additional 86,400 shares during the last quarter. 40.36% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ GMLP traded up $0.31 during trading hours on Monday, hitting $15.18. The company’s stock had a trading volume of 217,418 shares, compared to its average volume of 378,009. Golar LNG Partners has a 12 month low of $14.27 and a 12 month high of $23.46. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.57 and a beta of 0.97. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.59 and a current ratio of 0.60.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Tuesday, August 7th were given a $0.577 dividend. The ex-dividend date was Monday, August 6th. This represents a $2.31 annualized dividend and a yield of 15.20%. Golar LNG Partners’s payout ratio is 122.87%.
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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.
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