Golar LNG (NASDAQ:GLNG) Lifted to “Sell” at BidaskClub

Golar LNG (NASDAQ:GLNG) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Several other research firms have also weighed in on GLNG. Zacks Investment Research upgraded shares of Golar LNG from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, April 10th. Cowen reiterated an “outperform” rating and issued a $30.00 target price (down from $41.00) on shares of Golar LNG in a report on Monday, March 4th. Two analysts have rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.20.

NASDAQ:GLNG opened at $17.72 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -46.63 and a beta of 0.71. Golar LNG has a 1-year low of $17.14 and a 1-year high of $30.41.



Golar LNG (NASDAQ:GLNG) last posted its earnings results on Tuesday, May 21st. The shipping company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.11). The firm had revenue of $97.79 million during the quarter, compared to analyst estimates of $88.87 million. Golar LNG had a negative net margin of 52.68% and a negative return on equity of 2.93%. Equities analysts expect that Golar LNG will post -0.42 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of GLNG. Marshall Wace LLP boosted its stake in Golar LNG by 13.1% during the 1st quarter. Marshall Wace LLP now owns 305,542 shares of the shipping company’s stock worth $6,444,000 after purchasing an additional 35,292 shares during the period. Cerebellum GP LLC boosted its stake in Golar LNG by 116.1% during the 1st quarter. Cerebellum GP LLC now owns 14,720 shares of the shipping company’s stock worth $310,000 after purchasing an additional 7,908 shares during the period. FMR LLC boosted its stake in Golar LNG by 7.6% during the 1st quarter. FMR LLC now owns 7,966,210 shares of the shipping company’s stock worth $168,007,000 after purchasing an additional 560,753 shares during the period. Baker Avenue Asset Management LP boosted its stake in Golar LNG by 29.1% during the 1st quarter. Baker Avenue Asset Management LP now owns 152,490 shares of the shipping company’s stock worth $3,216,000 after purchasing an additional 34,356 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Golar LNG during the 1st quarter worth $211,000. Hedge funds and other institutional investors own 72.16% of the company’s stock.

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.

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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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