Flex LNG (NYSE:FLNG) Lowered to “Strong Sell” Rating by Kepler Capital Markets

Kepler Capital Markets lowered shares of Flex LNG (NYSE:FLNG) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Flex LNG in a research note on Friday, April 10th. Wall Street Zen downgraded shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Pareto Securities downgraded shares of Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Flex LNG has a consensus rating of “Reduce” and a consensus price target of $24.00.

Flex LNG Price Performance

Shares of FLNG stock opened at $32.10 on Thursday. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.72 and a quick ratio of 2.98. The company has a market capitalization of $1.74 billion, a P/E ratio of 22.93 and a beta of 0.20. The company’s 50-day simple moving average is $30.68 and its two-hundred day simple moving average is $27.72. Flex LNG has a one year low of $21.72 and a one year high of $33.40.

Flex LNG (NYSE:FLNG) last issued its earnings results on Wednesday, May 13th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $80.46 million during the quarter, compared to the consensus estimate of $80.35 million. Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.

Flex LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.3%. Flex LNG’s dividend payout ratio (DPR) is currently 214.29%.

Hedge Funds Weigh In On Flex LNG

Hedge funds and other institutional investors have recently modified their holdings of the business. Main Street Group LTD bought a new position in shares of Flex LNG during the first quarter valued at approximately $30,000. First Community Trust NA bought a new position in shares of Flex LNG during the fourth quarter valued at approximately $31,000. Financial Life Planners bought a new position in shares of Flex LNG during the third quarter valued at approximately $35,000. Kestra Advisory Services LLC bought a new position in shares of Flex LNG during the fourth quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC lifted its position in Flex LNG by 364.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock valued at $45,000 after acquiring an additional 1,408 shares during the last quarter.

About Flex LNG

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.