Golar LNG Limited (NASDAQ:GLNG) Given Average Rating of “Buy” by Brokerages


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Shares of Golar LNG Limited (NASDAQ:GLNG) have received a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $12.60.

Several equities analysts have weighed in on GLNG shares. Bank of America cut their target price on Golar LNG from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. B. Riley increased their target price on Golar LNG from $13.00 to $20.50 and gave the company a “buy” rating in a research note on Thursday. They noted that the move was a valuation call.

A number of hedge funds have recently bought and sold shares of the business. Man Group plc raised its holdings in Golar LNG by 6.9% in the 2nd quarter. Man Group plc now owns 49,031 shares of the shipping company’s stock valued at $355,000 after acquiring an additional 3,153 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Golar LNG by 368.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,085 shares of the shipping company’s stock worth $31,000 after acquiring an additional 4,000 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Golar LNG by 20.4% in the 2nd quarter. Baird Financial Group Inc. now owns 25,400 shares of the shipping company’s stock worth $361,000 after acquiring an additional 4,300 shares during the last quarter. California Public Employees Retirement System raised its holdings in Golar LNG by 3.0% in the 3rd quarter. California Public Employees Retirement System now owns 189,800 shares of the shipping company’s stock worth $1,149,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Golar LNG by 221.9% in the 2nd quarter. Bank of Montreal Can now owns 8,639 shares of the shipping company’s stock worth $57,000 after acquiring an additional 5,955 shares during the last quarter. Hedge funds and other institutional investors own 54.43% of the company’s stock.

GLNG traded down $0.15 during trading on Thursday, reaching $12.49. The company had a trading volume of 94,479 shares, compared to its average volume of 3,086,615. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.88. Golar LNG has a 12-month low of $4.54 and a 12-month high of $15.24. The firm’s 50-day simple moving average is $9.72 and its 200 day simple moving average is $8.91.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Sunday, November 29th. The shipping company reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.07). Golar LNG had a negative net margin of 55.97% and a positive return on equity of 0.73%. Analysts expect that Golar LNG will post -0.45 earnings per share for the current year.

Golar LNG Company Profile

Golar LNG Limited provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution 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, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations.

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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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