Golar LNG Limited (NASDAQ:GLNG) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.23 and last traded at $16.26, with a volume of 592 shares. The stock had previously closed at $16.51.
Several brokerages have issued reports on GLNG. Zacks Investment Research raised shares of Golar LNG from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, April 17th. BidaskClub cut shares of Golar LNG from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 27th. Finally, Cowen reissued an “outperform” rating and issued a $30.00 price objective (down previously from $41.00) on shares of Golar LNG in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. Golar LNG has an average rating of “Buy” and an average target price of $33.20.
The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -43.29 and a beta of 0.71. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89.
Golar LNG (NASDAQ:GLNG) last posted its earnings results on Tuesday, May 21st. The shipping company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.11). Golar LNG had a negative net margin of 52.68% and a negative return on equity of 2.93%. The business had revenue of $97.79 million during the quarter, compared to analysts’ expectations of $88.87 million. On average, analysts expect that Golar LNG Limited will post -0.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Wednesday, June 12th. Golar LNG’s dividend payout ratio is presently -157.89%.
Several large investors have recently modified their holdings of GLNG. Bank of Montreal Can boosted its holdings in Golar LNG by 75.1% during the fourth quarter. Bank of Montreal Can now owns 3,130 shares of the shipping company’s stock worth $68,000 after purchasing an additional 1,342 shares during the last quarter. Strs Ohio boosted its holdings in Golar LNG by 62.1% during the fourth quarter. Strs Ohio now owns 4,700 shares of the shipping company’s stock worth $102,000 after purchasing an additional 1,800 shares during the last quarter. KBC Group NV boosted its holdings in Golar LNG by 50.8% during the fourth quarter. KBC Group NV now owns 13,642 shares of the shipping company’s stock worth $297,000 after purchasing an additional 4,594 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Golar LNG by 6.4% during the fourth quarter. Advisors Asset Management Inc. now owns 14,842 shares of the shipping company’s stock worth $323,000 after purchasing an additional 893 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Golar LNG by 42.7% during the fourth quarter. Rhumbline Advisers now owns 135,025 shares of the shipping company’s stock worth $2,938,000 after purchasing an additional 40,409 shares during the last quarter. 72.06% of the stock is owned by hedge funds and other institutional investors.
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Golar LNG Company Profile (NASDAQ:GLNG)
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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