B. Riley Forecasts Golar LNG’s Q4 Earnings (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) – B. Riley cut their Q4 2024 earnings estimates for Golar LNG in a research report issued on Tuesday, November 12th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $0.42 per share for the quarter, down from their previous forecast of $0.48. B. Riley has a “Buy” rating and a $44.50 price objective on the stock. The consensus estimate for Golar LNG’s current full-year earnings is $1.53 per share.

Several other equities research analysts also recently commented on GLNG. Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus cut their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Golar LNG has an average rating of “Moderate Buy” and an average price target of $49.63.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $34.00 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. Golar LNG has a 1-year low of $19.94 and a 1-year high of $39.40. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 25.37 and a beta of 0.58. The business has a 50-day moving average of $36.19 and a 200-day moving average of $32.38.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company had revenue of $62.98 million during the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Golar LNG by 431.3% in the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after purchasing an additional 150,195 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Golar LNG in the third quarter valued at about $32,000. Luxor Capital Group LP acquired a new stake in Golar LNG during the third quarter valued at approximately $10,286,000. Brookfield Corp ON lifted its holdings in Golar LNG by 180.8% during the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock worth $31,244,000 after buying an additional 547,253 shares during the last quarter. Finally, State Street Corp grew its position in shares of Golar LNG by 5.2% in the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock worth $70,601,000 after acquiring an additional 94,336 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. Golar LNG’s dividend payout ratio (DPR) is presently 74.63%.

About Golar LNG

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.