FLEX LNG Ltd. (NYSE:FLNG – Get Rating) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have covered the stock in the last year is $280.00.
Several brokerages recently issued reports on FLNG. Danske downgraded shares of FLEX LNG from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. SEB Equities cut FLEX LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. SEB Equity Research downgraded shares of FLEX LNG from a “buy” rating to a “hold” rating and set a $280.00 price objective on the stock. in a report on Wednesday, June 8th. TheStreet upgraded shares of FLEX LNG from a “d” rating to a “b-” rating in a research report on Monday, June 13th. Finally, Jefferies Financial Group initiated coverage on FLEX LNG in a research report on Wednesday, July 20th. They issued a “hold” rating on the stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Clear Street Markets LLC bought a new stake in shares of FLEX LNG in the 2nd quarter valued at $25,000. National Bank of Canada FI bought a new position in shares of FLEX LNG in the first quarter valued at $32,000. Baldwin Brothers LLC MA bought a new position in shares of FLEX LNG in the second quarter valued at $68,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of FLEX LNG by 104.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 4,665 shares of the company’s stock worth $133,000 after acquiring an additional 2,380 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of FLEX LNG by 135.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,749 shares of the company’s stock worth $134,000 after acquiring an additional 2,729 shares during the last quarter. Institutional investors own 20.79% of the company’s stock.
FLEX LNG Price Performance
FLEX LNG (NYSE:FLNG – Get Rating) last announced its earnings results on Wednesday, August 24th. The company reported $0.61 earnings per share (EPS) for the quarter. The business had revenue of $84.16 million for the quarter. FLEX LNG had a return on equity of 16.96% and a net margin of 56.96%. On average, equities research analysts forecast that FLEX LNG will post 2.63 earnings per share for the current year.
FLEX LNG Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Thursday, September 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 9.34%. The ex-dividend date was Wednesday, September 7th. FLEX LNG’s dividend payout ratio is presently 78.95%.
FLEX LNG Company Profile
Flex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine M-type electronically controlled gas injection LNG carriers; and four vessels with generation X dual fuel propulsion systems. It also provides chartering and management services.
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