B. Riley Comments on Cool Company Ltd.’s FY2024 Earnings (NYSE:CLCO)

Cool Company Ltd. (NYSE:CLCO) – Investment analysts at B. Riley boosted their FY2024 earnings estimates for Cool in a research note issued on Thursday, August 29th. B. Riley analyst L. Burke now forecasts that the company will post earnings per share of $2.03 for the year, up from their prior estimate of $1.86. The consensus estimate for Cool’s current full-year earnings is $2.03 per share. B. Riley also issued estimates for Cool’s FY2025 earnings at $2.09 EPS.

Cool Stock Performance

CLCO stock opened at $11.69 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $11.78 and its 200 day moving average price is $11.57. Cool has a 1 year low of $10.07 and a 1 year high of $14.18.

Institutional Investors Weigh In On Cool

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. purchased a new stake in shares of Cool during the 1st quarter worth about $50,000. Seelaus Asset Management LLC purchased a new stake in Cool during the 1st quarter worth $115,000. Susquehanna International Group Ltd. purchased a new position in Cool in the first quarter valued at about $275,000. Granite Bay Wealth Management LLC acquired a new position in shares of Cool during the second quarter worth about $290,000. Finally, Hosking Partners LLP purchased a new stake in shares of Cool in the first quarter worth about $12,124,000. Hedge funds and other institutional investors own 20.66% of the company’s stock.

Cool Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 14.03%. The ex-dividend date of this dividend is Monday, September 9th.

About Cool

Cool Company Ltd. engages in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, it owned a fleet of eleven LNGCs, including seven modern tri-fuel diesel electric vessels; two modern 2-stroke and two TFDE vessels; and managed 17 LNGCs and floating storage and regasification units for third parties.