Jefferies Financial Group Reiterates "Hold" Rating for Flex LNG (NYSE:FLNG)

Key Points

• Jefferies Financial Group has reiterated a "hold" rating for Flex LNG (NYSE:FLNG) with a target price of $23.00, indicating a potential downside of 10.51% from its current price.
• Flex LNG reported a quarterly earnings per share of $0.46, exceeding estimates, while also achieving revenue of $86.00 million against predictions of $82.44 million.
• Recent institutional trading shows increased activity, with several large investors, including Wells Fargo, lifting their stakes in Flex LNG during the fourth quarter.

Flex LNG (NYSE:FLNG - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Jefferies Financial Group in a research report issued on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. Jefferies Financial Group's price objective indicates a potential downside of 10.51% from the company's current price.

Separately, Wall Street Zen cut shares of Flex LNG from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $23.00.

Flex LNG Stock Up 3.0%

Shares of Flex LNG stock traded up $0.75 on Wednesday, hitting $25.70. The company had a trading volume of 251,224 shares, compared to its average volume of 437,090. The firm has a market capitalization of $1.38 billion, a P/E ratio of 13.41 and a beta of 0.41. Flex LNG has a twelve month low of $19.46 and a twelve month high of $27.77. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.77 and a quick ratio of 2.74. The stock has a 50-day moving average of $23.88 and a 200-day moving average of $23.46.

Flex LNG (NYSE:FLNG - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $86.00 million during the quarter, compared to analysts' expectations of $82.44 million. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. Research analysts predict that Flex LNG will post 1.9 earnings per share for the current year.

Institutional Trading of Flex LNG

A number of large investors have recently added to or reduced their stakes in FLNG. Geode Capital Management LLC lifted its stake in Flex LNG by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 360,588 shares of the company's stock valued at $8,272,000 after acquiring an additional 3,411 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Flex LNG by 50.2% in the fourth quarter. Wells Fargo & Company MN now owns 66,937 shares of the company's stock valued at $1,536,000 after acquiring an additional 22,358 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Flex LNG in the fourth quarter valued at $3,890,000. Barclays PLC lifted its stake in Flex LNG by 8.4% in the fourth quarter. Barclays PLC now owns 54,280 shares of the company's stock valued at $1,245,000 after acquiring an additional 4,217 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Flex LNG by 6.5% in the fourth quarter. MetLife Investment Management LLC now owns 18,956 shares of the company's stock valued at $435,000 after acquiring an additional 1,149 shares during the last quarter.

Flex LNG Company Profile

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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