FLEX LNG (NYSE:FLNG) Announces Earnings Results, Beats Estimates By $0.06 EPS

FLEX LNG (NYSE:FLNG) posted its quarterly earnings data on Tuesday. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06, Zacks reports. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%.

FLEX LNG Trading Up 0.9 %

Shares of NYSE FLNG opened at $25.74 on Tuesday. The stock has a market cap of $1.39 billion, a P/E ratio of 15.14 and a beta of 0.70. The firm has a 50 day moving average price of $23.81 and a two-hundred day moving average price of $25.15. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. FLEX LNG has a 52-week low of $20.85 and a 52-week high of $30.48.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date was Wednesday, November 27th. FLEX LNG’s payout ratio is 176.47%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of FLEX LNG in a report on Tuesday.

FLEX LNG Company Profile

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.