FLEX LNG Ltd. (NYSE:FLNG - Get Free Report) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders of record on Thursday, February 20th will be given a dividend of 0.75 per share on Wednesday, March 5th. This represents a $3.00 dividend on an annualized basis and a yield of 12.03%. The ex-dividend date is Thursday, February 20th.
FLEX LNG has raised its dividend by an average of 17.5% per year over the last three years. FLEX LNG has a payout ratio of 120.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect FLEX LNG to earn $2.12 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 141.5%.
FLEX LNG Price Performance
Shares of NYSE:FLNG traded down $0.18 during midday trading on Friday, reaching $24.93. The company's stock had a trading volume of 483,347 shares, compared to its average volume of 431,521. The business's fifty day simple moving average is $23.89 and its 200-day simple moving average is $25.11. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.18. FLEX LNG has a fifty-two week low of $20.85 and a fifty-two week high of $30.48. The company has a market capitalization of $1.34 billion, a P/E ratio of 11.44 and a beta of 0.70.
FLEX LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same period in the previous year, the firm posted $0.70 earnings per share. As a group, equities research analysts expect that FLEX LNG will post 1.9 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group restated a "hold" rating and issued a $23.00 price objective on shares of FLEX LNG in a research report on Tuesday, February 4th.
Check Out Our Latest Analysis on FLNG
About FLEX LNG
(
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FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.
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