Golar LNG (NASDAQ:GLNG) Releases Earnings Results, Misses Estimates By $0.28 EPS

Golar LNG (NASDAQ:GLNG) announced its quarterly earnings data on Thursday. The shipping company reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.28), Morningstar.com reports. Golar LNG had a negative net margin of 52.68% and a negative return on equity of 2.93%.

Shares of GLNG opened at $11.51 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. Golar LNG has a one year low of $11.50 and a one year high of $30.29. The company has a 50-day simple moving average of $15.26 and a two-hundred day simple moving average of $18.69. The firm has a market capitalization of $1.31 billion, a PE ratio of -30.29 and a beta of 0.66.

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Bank & Trust Co purchased a new stake in Golar LNG in the second quarter worth about $43,000. Resources Investment Advisors LLC. purchased a new stake in Golar LNG in the second quarter worth about $55,000. Nisa Investment Advisors LLC lifted its holdings in Golar LNG by 674.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,445 shares of the shipping company’s stock worth $64,000 after buying an additional 3,000 shares during the period. Aperio Group LLC purchased a new stake in Golar LNG in the second quarter worth about $92,000. Finally, Advisor Group Inc. lifted its holdings in Golar LNG by 86.2% in the second quarter. Advisor Group Inc. now owns 5,547 shares of the shipping company’s stock worth $103,000 after buying an additional 2,568 shares during the period. Institutional investors and hedge funds own 67.80% of the company’s stock.



A number of research analysts have recently issued reports on GLNG shares. BidaskClub cut Golar LNG from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 8th. ValuEngine raised Golar LNG from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus cut their target price on Golar LNG from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. TheStreet cut Golar LNG from a “c-” rating to a “d+” rating in a research note on Friday, August 16th. Finally, Cowen reissued an “outperform” rating and issued a $22.00 target price (down from $30.00) on shares of Golar LNG in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.11.

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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Earnings History for Golar LNG (NASDAQ:GLNG)

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