B. Riley Issues Pessimistic Estimate for Golar LNG Earnings

Golar LNG Limited (NASDAQ:GLNG - Free Report) - Research analysts at B. Riley lowered their Q3 2024 earnings per share (EPS) estimates for shares of Golar LNG in a note issued to investors on Tuesday, November 12th. B. Riley analyst L. Burke now expects that the shipping company will earn $0.02 per share for the quarter, down from their previous 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 - Get Free Report) last released its earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company had revenue of $62.98 million for the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%.

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

Golar LNG Stock Performance

Shares of NASDAQ:GLNG traded down $0.99 on Friday, hitting $34.00. 1,128,452 shares of the company were exchanged, compared to its average volume of 1,193,066. The company's 50 day moving average price is $36.19 and its two-hundred day moving average price is $32.38. The firm 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. Golar LNG has a one year low of $19.94 and a one year high of $39.40.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently added to or reduced their stakes in the company. Brookfield Corp ON increased its holdings in Golar LNG by 180.8% during the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company's stock valued at $31,244,000 after purchasing an additional 547,253 shares in the last quarter. State Street Corp increased its stake in shares of Golar LNG by 5.2% in the third quarter. State Street Corp now owns 1,920,590 shares of the shipping company's stock valued at $70,601,000 after buying an additional 94,336 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Golar LNG by 21.8% in the third quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company's stock valued at $23,520,000 after buying an additional 114,531 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC lifted its position in Golar LNG by 32.8% during the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 761,194 shares of the shipping company's stock worth $27,981,000 after buying an additional 187,924 shares in the last quarter. Finally, Clearline Capital LP bought a new stake in Golar LNG during the 3rd quarter worth about $36,865,000. 92.21% of the stock is owned by institutional investors.

Golar LNG Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 2.94%. Golar LNG's dividend payout ratio is currently 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.