Golar LNG (GLNG) Cut to Hold at BidaskClub

BidaskClub lowered shares of Golar LNG (NASDAQ:GLNG) from a buy rating to a hold rating in a research report released on Saturday.

Several other equities research analysts also recently weighed in on GLNG. ABN Amro raised Golar LNG from a hold rating to a buy rating in a report on Monday, October 30th. Zacks Investment Research downgraded Golar LNG from a hold rating to a sell rating in a report on Tuesday, October 31st. Cowen raised their price objective on Golar LNG from $41.00 to $44.00 and gave the company an outperform rating in a report on Tuesday, December 12th. Finally, Jefferies Group initiated coverage on Golar LNG in a report on Monday, December 18th. They set a buy rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $35.17.

Shares of Golar LNG (GLNG) opened at $29.73 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. Golar LNG has a twelve month low of $19.32 and a twelve month high of $31.64. The firm has a market capitalization of $3,002.73, a price-to-earnings ratio of -15.25, a P/E/G ratio of 16.13 and a beta of 0.96.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Thursday, November 30th. The shipping company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.07). Golar LNG had a negative net margin of 180.90% and a negative return on equity of 9.15%. research analysts forecast that Golar LNG will post -1.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Wednesday, December 13th. Golar LNG’s dividend payout ratio is currently -10.26%.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Golar LNG by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 219,487 shares of the shipping company’s stock worth $4,884,000 after purchasing an additional 6,307 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Golar LNG by 23,320.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,198 shares of the shipping company’s stock worth $1,583,000 after purchasing an additional 70,894 shares during the last quarter. State Street Corp raised its position in Golar LNG by 6.2% during the 2nd quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock worth $38,608,000 after purchasing an additional 101,007 shares during the last quarter. Nationwide Fund Advisors raised its position in Golar LNG by 4.0% during the 3rd quarter. Nationwide Fund Advisors now owns 104,954 shares of the shipping company’s stock worth $2,373,000 after purchasing an additional 4,029 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Golar LNG by 48.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 511,313 shares of the shipping company’s stock worth $11,562,000 after purchasing an additional 166,198 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

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Golar LNG Company Profile

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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