Golar LNG Partners LP (NASDAQ:GMLP) Expected to Post Quarterly Sales of $71.05 Million

Wall Street brokerages expect that Golar LNG Partners LP (NASDAQ:GMLP) will announce $71.05 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Golar LNG Partners’ earnings, with the highest sales estimate coming in at $75.20 million and the lowest estimate coming in at $67.80 million. Golar LNG Partners posted sales of $68.05 million in the same quarter last year, which indicates a positive year over year growth rate of 4.4%. The company is expected to report its next earnings report on Tuesday, May 19th.

According to Zacks, analysts expect that Golar LNG Partners will report full-year sales of $294.56 million for the current year, with estimates ranging from $283.66 million to $308.02 million. For the next year, analysts forecast that the company will post sales of $298.37 million, with estimates ranging from $283.91 million to $306.24 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Golar LNG Partners.

Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings data on Tuesday, February 25th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Golar LNG Partners had a return on equity of 9.25% and a net margin of 5.94%. The company had revenue of $74.08 million for the quarter, compared to analysts’ expectations of $76.35 million.

A number of brokerages have recently issued reports on GMLP. Evercore ISI upgraded Golar LNG Partners from an “in-line” rating to an “outperform” rating in a research note on Tuesday, February 25th. BidaskClub cut Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, March 6th. Stifel Nicolaus dropped their price target on Golar LNG Partners from $14.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. ValuEngine cut Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Finally, B. Riley dropped their price target on Golar LNG Partners from to and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Golar LNG Partners currently has a consensus rating of “Hold” and a consensus target price of $7.46.

Shares of Golar LNG Partners stock traded down $0.07 on Tuesday, reaching $1.60. 1,179,628 shares of the company were exchanged, compared to its average volume of 691,539. Golar LNG Partners has a one year low of $1.30 and a one year high of $13.00. The company has a market capitalization of $110.88 million, a price-to-earnings ratio of 7.62, a PEG ratio of 0.25 and a beta of 1.32. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average of $3.37 and a 200 day moving average of $7.51.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its holdings in Golar LNG Partners by 25.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,462 shares of the shipping company’s stock valued at $92,000 after buying an additional 2,150 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Golar LNG Partners by 0.8% during the 3rd quarter. Stifel Financial Corp now owns 418,176 shares of the shipping company’s stock worth $4,025,000 after purchasing an additional 3,257 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX grew its holdings in shares of Golar LNG Partners by 27.0% during the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 17,006 shares of the shipping company’s stock worth $150,000 after purchasing an additional 3,612 shares in the last quarter. Arrow Investment Advisors LLC grew its holdings in shares of Golar LNG Partners by 13.3% during the 4th quarter. Arrow Investment Advisors LLC now owns 44,004 shares of the shipping company’s stock worth $389,000 after purchasing an additional 5,165 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its holdings in shares of Golar LNG Partners by 12.1% during the 4th quarter. Eqis Capital Management Inc. now owns 52,218 shares of the shipping company’s stock worth $462,000 after purchasing an additional 5,638 shares in the last quarter. 32.42% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Partners Company Profile

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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