Golar LNG (NASDAQ:GLNG) Posts Earnings Results, Beats Expectations By $0.09 EPS

Golar LNG (NASDAQ:GLNG - Get Free Report) posted its earnings results on Tuesday. The shipping company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.09, Zacks reports. The company had revenue of $63.00 million during the quarter, compared to analyst estimates of $64.90 million. Golar LNG had a net margin of 4.92% and a return on equity of 9.12%.

Golar LNG Trading Down 0.9%

GLNG traded down $0.39 during midday trading on Friday, reaching $41.44. The company's stock had a trading volume of 965,138 shares, compared to its average volume of 1,462,000. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 296.02 and a beta of 0.62. Golar LNG has a 1 year low of $25.50 and a 1 year high of $44.36. The stock's 50-day moving average is $38.12 and its 200-day moving average is $39.12.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, June 3rd. Golar LNG's payout ratio is currently 208.33%.

Institutional Investors Weigh In On Golar LNG

An institutional investor recently raised its position in Golar LNG stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Golar LNG Limited (NASDAQ:GLNG - Free Report) by 4.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,915 shares of the shipping company's stock after purchasing an additional 2,572 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Golar LNG worth $2,238,000 at the end of the most recent quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price target for the company in a research note on Tuesday, April 22nd. Dnb Nor Markets raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. BTIG Research reissued a "buy" rating on shares of Golar LNG in a research note on Wednesday. Finally, Wall Street Zen raised shares of Golar LNG to a "sell" rating in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $49.70.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.