Zacks: Analysts Expect Golar LNG Partners LP (NASDAQ:GMLP) Will Announce Earnings of $0.25 Per Share

Brokerages forecast that Golar LNG Partners LP (NASDAQ:GMLP) will report earnings per share of $0.25 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Golar LNG Partners’ earnings, with estimates ranging from $0.13 to $0.39. Golar LNG Partners posted earnings of $0.70 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 64.3%. The business is scheduled to announce its next earnings results before the market opens on Tuesday, November 26th.

On average, analysts expect that Golar LNG Partners will report full year earnings of $0.51 per share for the current fiscal year, with EPS estimates ranging from $0.35 to $0.67. For the next fiscal year, analysts forecast that the business will post earnings of $1.11 per share, with EPS estimates ranging from $0.55 to $1.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Golar LNG Partners.

Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings results on Wednesday, September 4th. The shipping company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Golar LNG Partners had a net margin of 2.83% and a return on equity of 9.23%. The business had revenue of $75.74 million during the quarter, compared to the consensus estimate of $78.41 million.

Several analysts recently issued reports on GMLP shares. BidaskClub downgraded shares of Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday. ValuEngine downgraded shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. B. Riley set a $14.00 price target on shares of Golar LNG Partners and gave the company a “hold” rating in a research report on Friday, August 30th. Bank of America dropped their price objective on Golar LNG Partners from $11.50 to $10.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Zacks Investment Research cut Golar LNG Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 3rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.75.

NASDAQ GMLP opened at $9.45 on Wednesday. The company has a fifty day simple moving average of $9.96 and a 200 day simple moving average of $10.78. Golar LNG Partners has a 12-month low of $9.01 and a 12-month high of $14.28. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The company has a market cap of $661.42 million, a P/E ratio of 11.81, a PEG ratio of 2.29 and a beta of 1.00.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were paid a dividend of $0.404 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 17.10%. The ex-dividend date was Thursday, November 7th. Golar LNG Partners’s payout ratio is 154.29%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Golar LNG Partners by 40.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,295 shares of the shipping company’s stock worth $93,000 after purchasing an additional 2,395 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Golar LNG Partners during the 3rd quarter worth $111,000. Fiduciary Financial Services of The Southwest Inc. TX bought a new stake in shares of Golar LNG Partners during the 3rd quarter worth $128,000. Janney Montgomery Scott LLC bought a new stake in shares of Golar LNG Partners during the 2nd quarter worth $174,000. Finally, Stockman Wealth Management Inc. raised its stake in shares of Golar LNG Partners by 13.9% during the 2nd quarter. Stockman Wealth Management Inc. now owns 16,000 shares of the shipping company’s stock worth $181,000 after purchasing an additional 1,950 shares during the period. Institutional investors own 32.69% of the company’s stock.

About Golar LNG Partners

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.

Featured Article: What is diluted earnings per share (Diluted EPS)?

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

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

Earnings History and Estimates for Golar LNG Partners (NASDAQ:GMLP)

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