Analysts Anticipate Golar LNG Partners LP (GMLP) to Post $0.60 EPS
Wall Street brokerages expect Golar LNG Partners LP (NASDAQ:GMLP) to report earnings of $0.60 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Golar LNG Partners’ earnings. The highest EPS estimate is $0.72 and the lowest is $0.49. Golar LNG Partners reported earnings of $0.62 per share in the same quarter last year, which suggests a negative year over year growth rate of 3.2%. The firm is expected to report its next quarterly earnings results on Wednesday, August 30th.
On average, analysts expect that Golar LNG Partners will report full-year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.61 to $2.11. For the next financial year, analysts anticipate that the firm will report earnings of $1.81 per share, with EPS estimates ranging from $1.19 to $2.16. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings results on Wednesday, May 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.11. Golar LNG Partners had a net margin of 40.50% and a return on equity of 28.97%. The business had revenue of $101.39 million for the quarter, compared to analysts’ expectations of $100.79 million.
A number of brokerages recently issued reports on GMLP. Zacks Investment Research downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Morgan Stanley reissued an “equal weight” rating and set a $22.00 price objective (down from $24.00) on shares of Golar LNG Partners in a research report on Tuesday, June 13th. BidaskClub raised Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Sunday, June 25th. Seaport Global Securities reissued a “neutral” rating and set a $22.00 price objective on shares of Golar LNG Partners in a research report on Tuesday, May 30th. Finally, ValuEngine cut Golar LNG Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.25.
Golar LNG Partners (NASDAQ:GMLP) opened at 20.85 on Friday. The company has a market cap of $1.47 billion, a PE ratio of 7.51 and a beta of 0.91. The firm’s 50-day moving average is $20.23 and its 200-day moving average is $22.15. Golar LNG Partners has a 52-week low of $17.62 and a 52-week high of $25.82.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in shares of Golar LNG Partners by 21.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,035 shares of the shipping company’s stock worth $112,000 after buying an additional 890 shares in the last quarter. Honkamp Krueger Financial Services Inc. acquired a new position in shares of Golar LNG Partners during the first quarter worth $201,000. Alliancebernstein L.P. acquired a new position in shares of Golar LNG Partners during the first quarter worth $216,000. HighTower Advisors LLC acquired a new position in shares of Golar LNG Partners during the first quarter worth $222,000. Finally, Winslow Evans & Crocker Inc. raised its position in shares of Golar LNG Partners by 46.1% in the first quarter. Winslow Evans & Crocker Inc. now owns 11,876 shares of the shipping company’s stock worth $265,000 after buying an additional 3,750 shares in the last quarter. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over 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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