Wall Street analysts forecast that Golar LNG Partners LP (NASDAQ:GMLP) will announce sales of $87.49 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Golar LNG Partners’ earnings. The lowest sales estimate is $74.20 million and the highest is $105.50 million. Golar LNG Partners posted sales of $135.97 million in the same quarter last year, which suggests a negative year-over-year growth rate of 35.7%. The business is scheduled to issue its next earnings report on Thursday, August 30th.
On average, analysts expect that Golar LNG Partners will report full year sales of $377.98 million for the current fiscal year, with estimates ranging from $328.16 million to $440.90 million. For the next year, analysts anticipate that the business will report sales of $407.38 million per share, with estimates ranging from $330.66 million to $502.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings data on Thursday, May 31st. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.12. Golar LNG Partners had a net margin of 29.68% and a return on equity of 16.74%. The company had revenue of $74.21 million for the quarter, compared to the consensus estimate of $77.64 million.
Shares of Golar LNG Partners traded down $0.01, hitting $15.71, on Monday, MarketBeat Ratings reports. 392,500 shares of the company were exchanged, compared to its average volume of 404,219. Golar LNG Partners has a one year low of $14.27 and a one year high of $23.46. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.71 and a current ratio of 1.73. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.68 and a beta of 0.84.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 14th. Investors of record on Monday, May 7th were paid a $0.5775 dividend. The ex-dividend date was Friday, May 4th. This represents a $2.31 dividend on an annualized basis and a yield of 14.70%. Golar LNG Partners’s payout ratio is currently 122.87%.
Golar LNG Partners announced that its board has authorized a share buyback plan on Monday, March 5th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the shipping company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Golar LNG Partners by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 965,708 shares of the shipping company’s stock valued at $16,523,000 after acquiring an additional 167,615 shares during the period. First Trust Advisors LP increased its stake in Golar LNG Partners by 16.5% in the fourth quarter. First Trust Advisors LP now owns 464,238 shares of the shipping company’s stock valued at $10,585,000 after acquiring an additional 65,759 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Golar LNG Partners by 43.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 159,098 shares of the shipping company’s stock valued at $3,627,000 after acquiring an additional 48,191 shares during the period. California Public Employees Retirement System boosted its position in Golar LNG Partners by 1.8% in the fourth quarter. California Public Employees Retirement System now owns 154,810 shares of the shipping company’s stock valued at $3,530,000 after buying an additional 2,679 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in Golar LNG Partners by 126.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 154,800 shares of the shipping company’s stock valued at $2,649,000 after buying an additional 86,400 shares in the last quarter. 42.13% of the stock is currently owned by institutional investors and hedge funds.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs), liquefied natural gas (LNG) carriers, and floating liquefied natural gas vessel industries under long-term charters in Brazil, the United Arab Emirates, Indonesia, Jordan, and Kuwait. The company also engages in the leasing of its fleets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Golar LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.