B. Riley Brokers Lower Earnings Estimates for Golar LNG

Golar LNG Limited (NASDAQ:GLNG) – Research analysts at B. Riley decreased their Q3 2024 EPS estimates for Golar LNG in a research note issued on Tuesday, November 12th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings per share of $0.02 for the quarter, down from their previous estimate of $0.33. The consensus estimate for Golar LNG’s current full-year earnings is $1.53 per share. B. Riley also issued estimates for Golar LNG’s FY2024 earnings at $1.09 EPS and FY2025 earnings at $1.31 EPS.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $62.98 million during the quarter, compared to the consensus estimate of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%.

A number of other brokerages have also weighed in on GLNG. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Golar LNG has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $34.00 on Friday. The firm’s 50-day simple moving average is $36.24 and its 200 day simple moving average is $32.45. The stock has a market cap of $3.55 billion, a P/E ratio of 25.37 and a beta of 0.58. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Golar LNG has a fifty-two week low of $19.94 and a fifty-two week high of $39.40.

Institutional Investors Weigh In On Golar LNG

Several hedge funds have recently made changes to their positions in GLNG. Banque Cantonale Vaudoise lifted its holdings in shares of Golar LNG by 11.1% in the second quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after purchasing an additional 417 shares in the last quarter. Beck Capital Management LLC boosted its position in Golar LNG by 0.7% during the 2nd quarter. Beck Capital Management LLC now owns 75,114 shares of the shipping company’s stock worth $2,355,000 after acquiring an additional 558 shares during the period. Blue Trust Inc. grew its stake in Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 703 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Golar LNG in the third quarter worth approximately $32,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Golar LNG by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 35,580 shares of the shipping company’s stock worth $1,115,000 after purchasing an additional 992 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. Golar LNG’s dividend payout ratio (DPR) is 74.63%.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.