FLEX LNG (NYSE:FLNG - Get Free Report) announced its earnings results on Wednesday. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.04, Zacks reports. The firm had revenue of $88.40 million for the quarter, compared to analysts' expectations of $87.70 million. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%.
FLEX LNG Stock Up 1.2%
NYSE:FLNG traded up $0.26 on Monday, reaching $22.88. 414,656 shares of the stock traded hands, compared to its average volume of 364,891. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.50 and a beta of 0.45. FLEX LNG has a 12 month low of $19.46 and a 12 month high of $29.80. The company's fifty day simple moving average is $22.99 and its 200 day simple moving average is $23.56.
FLEX LNG Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 13.11%. The ex-dividend date is Friday, June 6th. FLEX LNG's dividend payout ratio (DPR) is 157.07%.
Institutional Inflows and Outflows
An institutional investor recently raised its position in FLEX LNG stock. Goldman Sachs Group Inc. raised its stake in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 22.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,097 shares of the company's stock after buying an additional 27,543 shares during the period. Goldman Sachs Group Inc. owned about 0.28% of FLEX LNG worth $3,428,000 as of its most recent SEC filing.
Wall Street Analysts Forecast Growth
Several research firms recently commented on FLNG. Wall Street Zen raised shares of FLEX LNG from a "sell" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group reiterated a "hold" rating and set a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th. Finally, Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a research note on Monday, February 17th.
Check Out Our Latest Analysis on FLNG
About FLEX LNG
(
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FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.
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