Zacks: Brokerages Expect Golar LNG Partners LP (GMLP) to Announce $0.59 EPS
Equities research analysts expect that Golar LNG Partners LP (NASDAQ:GMLP) will report earnings per share of $0.59 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Golar LNG Partners’ earnings. The highest EPS estimate is $0.69 and the lowest is $0.49. Golar LNG Partners reported earnings of $0.62 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The business is scheduled to report its next quarterly earnings report before the market opens on Wednesday, August 30th.
According to Zacks, analysts expect that Golar LNG Partners will report full year earnings of $1.80 per share for the current year, with EPS estimates ranging from $1.61 to $1.95. For the next financial year, analysts forecast that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.19 to $2.10. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Golar LNG Partners.
Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings results on Wednesday, August 30th. The shipping company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. Golar LNG Partners had a return on equity of 31.69% and a net margin of 43.94%.
Several research firms recently commented on GMLP. BidaskClub raised shares of Golar LNG Partners from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 18th. Zacks Investment Research downgraded shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and set a $26.00 target price on shares of Golar LNG Partners in a research report on Monday, June 12th. Morgan Stanley restated an “equal weight” rating and issued a $22.00 price target (down from $24.00) on shares of Golar LNG Partners in a report on Tuesday, June 13th. Finally, ValuEngine upgraded shares of Golar LNG Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Golar LNG Partners currently has a consensus rating of “Buy” and an average target price of $23.25.
Shares of Golar LNG Partners (GMLP) opened at 21.61 on Monday. The company has a market cap of $1.53 billion, a PE ratio of 7.78 and a beta of 0.94. The stock’s 50 day moving average price is $21.06 and its 200-day moving average price is $21.33. Golar LNG Partners has a one year low of $18.32 and a one year high of $25.82.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were paid a dividend of $0.5775 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $2.31 annualized dividend and a yield of 10.69%. Golar LNG Partners’s dividend payout ratio (DPR) is presently 82.21%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. boosted its position in shares of Golar LNG Partners by 21.5% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 5,035 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 890 shares during the last quarter. Alliancebernstein L.P. lifted its position in Golar LNG Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock valued at $205,000 after buying an additional 572 shares during the last quarter. HighTower Advisors LLC acquired a new position in Golar LNG Partners in the first quarter valued at about $222,000. PNC Financial Services Group Inc. lifted its position in Golar LNG Partners by 13.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the shipping company’s stock valued at $271,000 after buying an additional 1,474 shares during the last quarter. Finally, KCG Holdings Inc. acquired a new position in Golar LNG Partners in the first quarter valued at about $300,000. 73.98% of the stock is currently owned by 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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