Golar LNG Limited (NASDAQ:GLNG) – B. Riley increased their Q4 2018 earnings per share estimates for Golar LNG in a report released on Monday, November 5th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of ($0.12) per share for the quarter, up from their prior forecast of ($0.15). B. Riley currently has a “Buy” rating and a $34.00 target price on the stock. B. Riley also issued estimates for Golar LNG’s FY2019 earnings at ($0.83) EPS.
Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Monday, November 5th. The shipping company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.34). Golar LNG had a return on equity of 1.40% and a net margin of 27.87%.
GLNG has been the subject of several other research reports. Zacks Investment Research cut shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. BidaskClub upgraded shares of Golar LNG from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 3rd. Jefferies Financial Group set a $40.00 target price on shares of Golar LNG and gave the company a “buy” rating in a report on Wednesday, August 22nd. Deutsche Bank initiated coverage on shares of Golar LNG in a report on Wednesday, October 10th. They issued a “buy” rating and a $36.00 target price for the company. Finally, Berenberg Bank initiated coverage on shares of Golar LNG in a report on Thursday, September 6th. They issued a “buy” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Golar LNG presently has an average rating of “Buy” and a consensus target price of $36.70.
Shares of Golar LNG stock opened at $28.36 on Thursday. Golar LNG has a 12-month low of $22.45 and a 12-month high of $35.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.62.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 14th will be issued a $0.15 dividend. This is a boost from Golar LNG’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.12%. Golar LNG’s dividend payout ratio is presently -34.01%.
A number of large investors have recently modified their holdings of the stock. Trexquant Investment LP acquired a new stake in Golar LNG during the 3rd quarter worth $699,000. FIL Ltd boosted its stake in Golar LNG by 74.9% during the 3rd quarter. FIL Ltd now owns 30,532 shares of the shipping company’s stock worth $849,000 after purchasing an additional 13,079 shares during the period. BlackRock Inc. boosted its stake in Golar LNG by 1.9% during the 3rd quarter. BlackRock Inc. now owns 4,540,739 shares of the shipping company’s stock worth $126,232,000 after purchasing an additional 83,274 shares during the period. Bank of New York Mellon Corp boosted its stake in Golar LNG by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 518,101 shares of the shipping company’s stock worth $14,403,000 after purchasing an additional 6,202 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in Golar LNG during the 3rd quarter worth $975,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.
About Golar LNG
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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