Cool Company Ltd. (NYSE:CLCO) Receives Average Recommendation of “Reduce” from Brokerages

Cool Company Ltd. (NYSE:CLCO) has received an average rating of “Reduce” from the four ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company.

CLCO has been the subject of a number of recent research reports. B. Riley downgraded Cool from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Zacks Research downgraded Cool from a “hold” rating to a “strong sell” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cool in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Cool from a “hold” rating to a “sell” rating in a research note on Friday, September 26th.

Institutional Investors Weigh In On Cool

A hedge fund recently raised its stake in Cool stock. Donald Smith & CO. Inc. raised its stake in shares of Cool Company Ltd. (NYSE:CLCO) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,564,815 shares of the company’s stock after purchasing an additional 132,704 shares during the quarter. Donald Smith & CO. Inc. owned 6.64% of Cool worth $23,884,000 as of its most recent filing with the Securities and Exchange Commission. 20.66% of the stock is owned by hedge funds and other institutional investors.

Cool Stock Performance

Shares of NYSE CLCO opened at $9.67 on Wednesday. Cool has a 12-month low of $4.51 and a 12-month high of $10.00. The company has a market cap of $519.31 million, a PE ratio of 16.12 and a beta of 0.69. The stock has a 50 day simple moving average of $9.76 and a 200-day simple moving average of $8.68. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

Cool (NYSE:CLCO) last posted its quarterly earnings data on Thursday, November 20th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $86.31 million for the quarter, compared to analyst estimates of $84.71 million. Cool had a net margin of 17.45% and a return on equity of 7.94%. On average, equities research analysts forecast that Cool will post 1.68 EPS for the current year.

Cool Company Profile

Cool Company Ltd. engages in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, it owned a fleet of eleven LNGCs, including seven modern tri-fuel diesel electric vessels; two modern 2-stroke and two TFDE vessels; and managed 17 LNGCs and floating storage and regasification units for third parties. The company was founded in 1970 and is based in London, the United Kingdom.