B. Riley Issues Negative Estimate for Golar LNG Earnings

Golar LNG Limited (NASDAQ:GLNG) – Equities researchers at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for Golar LNG in a report issued on Tuesday, November 12th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.33. B. Riley currently has a “Buy” rating and a $44.50 price target on the stock. The consensus estimate for Golar LNG’s current full-year earnings is $1.53 per share. B. Riley also issued estimates for Golar LNG’s FY2024 earnings at $1.09 EPS and FY2025 earnings at $1.31 EPS.

Other research analysts also recently issued research reports about the company. StockNews.com raised Golar LNG to a “sell” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus decreased their price objective on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Golar LNG presently has an average rating of “Moderate Buy” and an average target price of $49.63.

Golar LNG Trading Down 2.8 %

Shares of NASDAQ:GLNG opened at $34.00 on Friday. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 25.37 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. The stock’s 50-day simple moving average is $36.19 and its two-hundred day simple moving average is $32.38. Golar LNG has a 52-week low of $19.94 and a 52-week high of $39.40.

Golar LNG (NASDAQ:GLNG) last announced its earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $62.98 million during the quarter, compared to analysts’ expectations of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%.

Institutional Trading of Golar LNG

A number of large investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its stake in Golar LNG by 11.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock worth $132,000 after acquiring an additional 417 shares during the last quarter. Beck Capital Management LLC boosted its holdings in shares of Golar LNG by 0.7% in the 2nd quarter. Beck Capital Management LLC now owns 75,114 shares of the shipping company’s stock worth $2,355,000 after purchasing an additional 558 shares during the period. Blue Trust Inc. boosted its holdings in shares of Golar LNG by 105.1% in the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after purchasing an additional 703 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Golar LNG in the 3rd quarter worth approximately $32,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Golar LNG by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,580 shares of the shipping company’s stock worth $1,115,000 after purchasing an additional 992 shares during the period. Institutional investors own 92.21% of the company’s stock.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Monday, November 25th. Golar LNG’s payout ratio is 74.63%.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.