B. Riley Issues Pessimistic Forecast for Golar LNG Earnings

Golar LNG Limited (NASDAQ:GLNG) – Research analysts at B. Riley dropped their Q4 2024 earnings per share (EPS) estimates for Golar LNG in a report issued on Tuesday, November 12th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $0.42 per share for the quarter, down from their prior forecast of $0.48. B. Riley has a “Buy” rating and a $44.50 price objective on the stock. The consensus estimate for Golar LNG’s current full-year earnings is $1.53 per share.

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

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $34.00 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. The firm has a market capitalization of $3.55 billion, a PE ratio of 25.37 and a beta of 0.58. Golar LNG has a 1-year low of $19.94 and a 1-year high of $39.40. The business’s fifty day moving average price is $36.19 and its two-hundred day moving average price is $32.38.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Donald Smith & CO. Inc. boosted its stake in Golar LNG by 32.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock valued at $86,303,000 after purchasing an additional 870,233 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after buying an additional 1,843,100 shares in the last quarter. State Street Corp boosted its stake in Golar LNG by 5.2% during 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. American Century Companies Inc. grew its holdings in Golar LNG by 53.7% during the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after acquiring an additional 605,499 shares during the period. Finally, Pinnacle Associates Ltd. raised its position in Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock worth $47,045,000 after acquiring an additional 63,180 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Monday, November 25th. Golar LNG’s dividend payout ratio is currently 74.63%.

About Golar LNG

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.