Wall Street analysts forecast that Golar LNG Partners LP (NASDAQ:GMLP) will announce sales of $80.15 million for the current quarter, Zacks reports. Four analysts have issued estimates for Golar LNG Partners’ earnings. The lowest sales estimate is $72.54 million and the highest is $85.14 million. Golar LNG Partners reported sales of $84.20 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 22nd.
According to Zacks, analysts expect that Golar LNG Partners will report full-year sales of $311.42 million for the current fiscal year, with estimates ranging from $290.95 million to $330.34 million. For the next fiscal year, analysts forecast that the firm will post sales of $312.95 million, with estimates ranging from $303.70 million to $318.86 million. Zacks’ sales averages are an average based on a survey of research firms that cover Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Tuesday, May 21st. The shipping company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The firm had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $70.94 million. Golar LNG Partners had a net margin of 12.69% and a return on equity of 10.05%.
A number of brokerages recently commented on GMLP. BidaskClub upgraded Golar LNG Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday. TheStreet lowered Golar LNG Partners from a “c” rating to a “d+” rating in a research report on Friday, June 7th. Zacks Investment Research upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. ValuEngine upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, Bank of America lowered Golar LNG Partners from a “neutral” rating to an “underperform” rating and set a $12.00 price objective on the stock. in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Golar LNG Partners has a consensus rating of “Hold” and a consensus target price of $13.67.
Large investors have recently modified their holdings of the business. Lavaca Capital LLC purchased a new stake in Golar LNG Partners in the 1st quarter valued at $39,000. SeaBridge Investment Advisors LLC grew its holdings in shares of Golar LNG Partners by 100.0% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 4,000 shares of the shipping company’s stock worth $43,000 after purchasing an additional 2,000 shares during the period. Regent Investment Management LLC purchased a new position in shares of Golar LNG Partners during the 1st quarter worth $142,000. PNC Financial Services Group Inc. grew its holdings in shares of Golar LNG Partners by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock worth $123,000 after purchasing an additional 1,240 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Golar LNG Partners by 1,099.7% during the 4th quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock worth $128,000 after purchasing an additional 10,997 shares during the period. Institutional investors own 32.70% of the company’s stock.
NASDAQ GMLP traded down $0.18 during trading hours on Friday, reaching $11.22. The stock had a trading volume of 102,496 shares, compared to its average volume of 184,572. The firm has a market cap of $808.17 million, a P/E ratio of 10.69, a P/E/G ratio of 1.45 and a beta of 1.12. Golar LNG Partners has a 52-week low of $10.23 and a 52-week high of $16.99. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 1.85.
About Golar LNG Partners
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.
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