FLEX LNG (NYSE:FLNG) Announces Earnings Results, Beats Expectations By $0.06 EPS

FLEX LNG (NYSE:FLNG - Get Free Report) announced its earnings results on Tuesday. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06, Zacks reports. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. During the same quarter in the prior year, the company posted $0.70 EPS.

FLEX LNG Stock Down 3.4 %

NYSE:FLNG traded down $0.87 during mid-day trading on Thursday, hitting $25.11. The stock had a trading volume of 662,573 shares, compared to its average volume of 448,569. FLEX LNG has a twelve month low of $20.85 and a twelve month high of $30.48. The stock has a 50-day simple moving average of $23.86 and a two-hundred day simple moving average of $25.15. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $1.35 billion, a PE ratio of 14.77 and a beta of 0.70.

FLEX LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.95%. The ex-dividend date is Thursday, February 20th. FLEX LNG's dividend payout ratio is presently 176.47%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a "hold" rating and issued a $23.00 price target on shares of FLEX LNG in a research note on Tuesday.

FLEX LNG Company Profile

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.