B. Riley Comments on Golar LNG’s Q4 Earnings (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) – Analysts at B. Riley lowered their Q4 2024 EPS estimates for shares of Golar LNG in a research note issued on Tuesday, November 12th. B. Riley analyst L. Burke now expects that the shipping company will earn $0.42 per share for the quarter, down from their prior estimate of $0.48. B. Riley currently has a “Buy” rating and a $44.50 target price on the stock. The consensus estimate for Golar LNG’s current full-year earnings is $1.53 per share.

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

GLNG has been the topic of several other research reports. Stifel Nicolaus lowered their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 16th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.63.

Golar LNG Price Performance

Shares of GLNG stock opened at $34.99 on Thursday. The stock’s fifty day simple moving average is $36.13 and its 200 day simple moving average is $32.37. Golar LNG has a one year low of $19.94 and a one year high of $39.40. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 26.23 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. Golar LNG’s dividend payout ratio (DPR) is currently 74.63%.

Hedge Funds Weigh In On Golar LNG

Several large investors have recently made changes to their positions in GLNG. Lowe Wealth Advisors LLC acquired a new position in Golar LNG during the 2nd quarter valued at about $45,000. Blue Trust Inc. boosted its stake in Golar LNG by 105.1% in the third 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 during the last quarter. Sound Income Strategies LLC acquired a new stake in Golar LNG during the 3rd quarter worth $52,000. EverSource Wealth Advisors LLC lifted its stake in shares of Golar LNG by 206.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares during the period. Finally, CWM LLC grew its stake in shares of Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.