Golar LNG Limited (NASDAQ:GLNG) Receives Consensus Recommendation of “Buy” from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been assigned an average rating of “Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $32.44.

GLNG has been the topic of a number of analyst reports. Zacks Investment Research raised Golar LNG from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Monday, April 29th. Cowen reaffirmed an “outperform” rating and set a $30.00 target price (down from $41.00) on shares of Golar LNG in a research report on Monday, March 4th. Finally, BidaskClub lowered Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd.

Institutional investors have recently made changes to their positions in the stock. Coastal Investment Advisors Inc. bought a new position in shares of Golar LNG during the first quarter valued at approximately $41,000. Massey Quick Simon & CO. LLC acquired a new stake in Golar LNG in the first quarter worth approximately $42,000. Bank of Montreal Can increased its holdings in shares of Golar LNG by 75.1% in the fourth quarter. Bank of Montreal Can now owns 3,130 shares of the shipping company’s stock valued at $68,000 after buying an additional 1,342 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Golar LNG in the fourth quarter valued at $78,000. Finally, Macquarie Group Ltd. bought a new position in shares of Golar LNG in the fourth quarter valued at $94,000. 72.16% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ GLNG traded down $0.44 during midday trading on Friday, reaching $16.50. 21,337 shares of the company’s stock were exchanged, compared to its average volume of 1,078,232. Golar LNG has a 52-week low of $16.42 and a 52-week high of $30.41. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -43.45 and a beta of 0.71. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.51.

Golar LNG (NASDAQ:GLNG) last announced its earnings results on Tuesday, May 21st. The shipping company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.11). Golar LNG had a negative return on equity of 2.93% and a negative net margin of 52.68%. The business had revenue of $97.79 million for the quarter, compared to analysts’ expectations of $88.87 million. As a group, research analysts predict that Golar LNG will post -0.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Thursday, June 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, June 12th. Golar LNG’s dividend payout ratio is currently -157.89%.

About Golar LNG

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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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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