Jefferies Group Comments on Golar LNG Partners LP’s FY2017 Earnings (GMLP)
Golar LNG Partners LP (NASDAQ:GMLP) – Equities researchers at Jefferies Group reduced their FY2017 earnings per share estimates for shares of Golar LNG Partners in a research note issued on Friday. Jefferies Group analyst R. Giveans now forecasts that the firm will post earnings of $2.71 per share for the year, down from their previous forecast of $2.84. Jefferies Group has a “Buy” rating and a $25.00 price objective on the stock.
GMLP has been the subject of several other research reports. Morgan Stanley set a $15.00 target price on shares of Golar LNG Partners and gave the company a “hold” rating in a report on Tuesday, September 6th. Zacks Investment Research cut shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st.
Shares of Golar LNG Partners (NASDAQ:GMLP) traded down 0.23% during mid-day trading on Monday, hitting $21.82. 123,882 shares of the stock traded hands. The firm’s 50 day moving average price is $19.62 and its 200 day moving average price is $18.11. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 10.15 and a beta of 1.01. Golar LNG Partners has a 12-month low of $7.55 and a 12-month high of $22.42.
Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Wednesday, August 31st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.16.
A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Golar LNG Partners by 43.2% in the third quarter. Creative Planning now owns 5,300 shares of the company’s stock valued at $104,000 after buying an additional 1,600 shares during the period. PNC Financial Services Group Inc. increased its stake in Golar LNG Partners by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $139,000 after buying an additional 3,000 shares during the period. Quantbot Technologies LP increased its stake in Golar LNG Partners by 98.2% in the second quarter. Quantbot Technologies LP now owns 8,062 shares of the company’s stock valued at $147,000 after buying an additional 3,994 shares during the period. BlackRock Inc. purchased a new position in shares of Golar LNG Partners during the second quarter worth approximately $173,000. Finally, Geode Capital Management LLC increased its position in shares of Golar LNG Partners by 7.8% in the first quarter. Geode Capital Management LLC now owns 18,395 shares of the company’s stock worth $270,000 after buying an additional 1,324 shares during the last quarter.
About Golar LNG Partners
Golar LNG Partners LP (Golar LNG Partners) owns and operates floating storage and regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters. The Company operates a fleet of around six FSRU vessels and four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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