Q3 2024 Earnings Estimate for Golar LNG Limited Issued By B. Riley (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) – Investment analysts at B. Riley cut their Q3 2024 earnings estimates for Golar LNG in a report issued on Thursday, August 15th. B. Riley analyst L. Burke now expects that the shipping company will post earnings of $0.33 per share for the quarter, down from their previous forecast of $0.38. B. Riley currently has a “Buy” rating and a $44.50 price target on the stock. The consensus estimate for Golar LNG’s current full-year earnings is $1.88 per share. B. Riley also issued estimates for Golar LNG’s Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $1.46 EPS and FY2025 earnings at $2.28 EPS.

Several other equities analysts have also issued reports on GLNG. StockNews.com lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday. BTIG Research boosted their target price on shares of Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Stifel Nicolaus dropped their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Golar LNG currently has a consensus rating of “Moderate Buy” and an average price target of $45.10.

Golar LNG Price Performance

GLNG stock opened at $32.84 on Friday. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 31.28 and a beta of 0.64. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.34. Golar LNG has a 12-month low of $19.94 and a 12-month high of $36.52. The company’s fifty day simple moving average is $32.28 and its 200 day simple moving average is $26.91.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Tuesday, May 28th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $63.19 million for the quarter, compared to analyst estimates of $72.27 million. Golar LNG had a net margin of 38.11% and a return on equity of 10.15%.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. Golar LNG’s dividend payout ratio is currently 95.24%.

Hedge Funds Weigh In On Golar LNG

Several institutional investors have recently made changes to their positions in GLNG. Lowe Wealth Advisors LLC acquired a new position in shares of Golar LNG during the second quarter valued at about $45,000. EverSource Wealth Advisors LLC raised its holdings in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares during the period. Quarry LP increased its position in shares of Golar LNG by 1,559.3% during the second quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock worth $73,000 after acquiring an additional 2,183 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Golar LNG during the fourth quarter worth about $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Golar LNG by 26,805.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock worth $118,000 after acquiring an additional 5,093 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.