Golar LNG Limited (NASDAQ:GLNG) Expected to Post Quarterly Sales of $91.86 Million

Wall Street brokerages expect Golar LNG Limited (NASDAQ:GLNGGet Rating) to report $91.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Golar LNG’s earnings. The lowest sales estimate is $80.13 million and the highest is $107.01 million. Golar LNG reported sales of $118.34 million during the same quarter last year, which indicates a negative year over year growth rate of 22.4%. The business is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Golar LNG will report full year sales of $371.08 million for the current fiscal year, with estimates ranging from $274.55 million to $511.19 million. For the next fiscal year, analysts forecast that the business will report sales of $314.47 million, with estimates ranging from $247.22 million to $366.76 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Golar LNG.

Golar LNG (NASDAQ:GLNGGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.12. The business had revenue of $115.39 million for the quarter, compared to the consensus estimate of $114.01 million. Golar LNG had a return on equity of 0.92% and a net margin of 91.35%.

GLNG has been the topic of several analyst reports. Bank of America upgraded Golar LNG from an “underperform” rating to a “neutral” rating and raised their target price for the company from $14.00 to $19.50 in a research report on Thursday, March 3rd. BTIG Research raised their target price on Golar LNG from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, March 14th. StockNews.com initiated coverage on Golar LNG in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Golar LNG from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Tuesday, February 15th. Finally, TheStreet upgraded Golar LNG from a “d+” rating to a “c-” rating in a research report on Wednesday, March 23rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.30.

GLNG opened at $25.70 on Thursday. Golar LNG has a 12 month low of $9.95 and a 12 month high of $26.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.71 and a quick ratio of 0.50. The stock has a market cap of $2.83 billion, a P/E ratio of 6.89 and a beta of 0.70. The stock’s 50 day moving average price is $19.33 and its 200 day moving average price is $15.19.

Several hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its position in shares of Golar LNG by 141.9% in the third quarter. Advisor Group Holdings Inc. now owns 7,067 shares of the shipping company’s stock worth $92,000 after buying an additional 4,145 shares during the period. Moors & Cabot Inc. purchased a new position in Golar LNG in the third quarter valued at about $405,000. Franklin Resources Inc. purchased a new stake in shares of Golar LNG during the 3rd quarter worth about $132,000. AlphaCrest Capital Management LLC acquired a new stake in shares of Golar LNG during the 4th quarter valued at about $135,000. Finally, Clear Harbor Asset Management LLC acquired a new position in Golar LNG in the third quarter worth approximately $159,000. Institutional investors own 55.08% of the company’s stock.

About Golar LNG (Get Rating)

Golar LNG Limited provides infrastructure for the liquefaction, transportation, and regasification of LNG. It operates through Shipping, FLNG, and Power segments. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.

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