B. Riley Issues Negative Estimate for Golar LNG Earnings

Golar LNG Limited (NASDAQ:GLNG) – B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of Golar LNG in a report released on Tuesday, November 12th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $0.02 per share for the quarter, down from their prior forecast of $0.33. B. Riley 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.

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

Several other research firms have also commented on GLNG. Stifel Nicolaus reduced their price target on Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. StockNews.com raised Golar LNG to a “sell” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.63.

Golar LNG Trading Down 2.8 %

Shares of NASDAQ GLNG opened at $34.00 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $36.19 and a two-hundred day simple moving average of $32.38. The firm has a market cap of $3.55 billion, a PE ratio of 25.37 and a beta of 0.58. Golar LNG has a twelve month low of $19.94 and a twelve month high of $39.40.

Institutional Trading of Golar LNG

Several large investors have recently added to or reduced their stakes in GLNG. ProShare Advisors LLC boosted its stake in shares of Golar LNG by 7.3% in the first quarter. ProShare Advisors LLC now owns 17,802 shares of the shipping company’s stock worth $428,000 after buying an additional 1,208 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Golar LNG by 28.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,078 shares of the shipping company’s stock worth $892,000 after buying an additional 8,150 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in shares of Golar LNG in the first quarter worth about $935,000. Vanguard Group Inc. boosted its stake in shares of Golar LNG by 74.4% in the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after buying an additional 433,299 shares during the last quarter. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Golar LNG by 32.0% in the first quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock worth $86,303,000 after buying an additional 870,233 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Announces Dividend

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