Golar LNG Limited (NASDAQ:GLNG - Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be given a dividend of 0.25 per share by the shipping company on Tuesday, March 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, March 11th.
Golar LNG has a dividend payout ratio of 84.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect Golar LNG to earn $1.62 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 61.7%.
Golar LNG Price Performance
Shares of NASDAQ:GLNG traded down $0.74 during midday trading on Tuesday, reaching $36.06. The company had a trading volume of 2,464,225 shares, compared to its average volume of 1,181,768. The stock's fifty day moving average price is $40.89 and its 200-day moving average price is $38.29. The stock has a market capitalization of $3.76 billion, a P/E ratio of 257.59 and a beta of 0.55. Golar LNG has a one year low of $20.38 and a one year high of $44.36.
Analyst Ratings Changes
Several equities analysts have commented on the company. StockNews.com upgraded Golar LNG to a "sell" rating in a report on Monday, December 9th. Stifel Nicolaus raised their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, December 24th. Fearnley Fonds downgraded shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Finally, DNB Markets downgraded shares of Golar LNG from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $50.13.
Check Out Our Latest Report on GLNG
About Golar LNG
(
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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.
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