Golar LNG Limited (NASDAQ:GLNG) Expected to Announce Quarterly Sales of $110.39 Million

Brokerages forecast that Golar LNG Limited (NASDAQ:GLNG) will post $110.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Golar LNG’s earnings, with estimates ranging from $104.22 million to $120.16 million. Golar LNG posted sales of $97.79 million during the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The company is expected to report its next earnings report on Tuesday, May 19th.

On average, analysts expect that Golar LNG will report full-year sales of $428.54 million for the current financial year, with estimates ranging from $404.35 million to $450.41 million. For the next fiscal year, analysts expect that the firm will report sales of $454.33 million, with estimates ranging from $386.79 million to $505.76 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Golar LNG.

Several research firms recently weighed in on GLNG. ValuEngine cut Golar LNG from a “buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Goldman Sachs Group raised Golar LNG from a “sell” rating to a “neutral” rating and set a $12.50 price objective for the company in a research report on Tuesday, February 4th. BidaskClub cut Golar LNG from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 14th. Finally, DNB Markets cut Golar LNG from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Monday, March 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $19.75.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in Golar LNG by 6.4% during the fourth quarter. FMR LLC now owns 8,468,173 shares of the shipping company’s stock valued at $120,418,000 after acquiring an additional 507,003 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Golar LNG by 6.4% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,457,101 shares of the shipping company’s stock valued at $20,720,000 after acquiring an additional 87,955 shares during the period. Geode Capital Management LLC increased its stake in Golar LNG by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 557,120 shares of the shipping company’s stock valued at $7,922,000 after acquiring an additional 14,593 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Golar LNG by 26.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 503,054 shares of the shipping company’s stock valued at $6,535,000 after purchasing an additional 104,712 shares during the period. Finally, Norges Bank bought a new stake in shares of Golar LNG in the 4th quarter valued at approximately $5,963,000. Hedge funds and other institutional investors own 63.29% of the company’s stock.

Shares of NASDAQ GLNG traded down $1.47 during trading hours on Tuesday, hitting $4.63. 6,081,076 shares of the company’s stock were exchanged, compared to its average volume of 2,129,332. Golar LNG has a 1-year low of $5.60 and a 1-year high of $21.97. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.32 and a quick ratio of 0.40. The stock has a market capitalization of $592.62 million, a price-to-earnings ratio of -0.85 and a beta of 0.81. The company’s 50-day moving average price is $9.33 and its 200-day moving average price is $12.21.

Golar LNG Company Profile

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.

Featured Story: What Are Cryptocurrencies?

Get a free copy of the Zacks research report on Golar LNG (GLNG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Golar LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG and related companies with MarketBeat.com's FREE daily email newsletter.