Weiss Ratings Reiterates Hold (C-) Rating for Golar LNG (NASDAQ:GLNG)

Key Points

• Golar LNG (NASDAQ: GLNG) has received a reiterated "hold (C-)" rating from Weiss Ratings, while other analysts have given a mix of ratings including three "Strong Buy" and three "Buy" ratings.
• The stock opened at $38.21, currently has a market cap of $3.99 billion, and has a 52-week trading range of $29.56 to $45.98.
• Recent earnings revealed Golar LNG missed the consensus EPS estimate, reporting $0.26 instead of the expected $0.29, with revenue of $75.67 million falling short of analyst expectations.

Golar LNG (NASDAQ:GLNG - Get Free Report)'s stock had its "hold (c-)" rating restated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also weighed in on GLNG. The Goldman Sachs Group initiated coverage on Golar LNG in a research note on Monday, September 29th. They issued a "buy" rating and a $54.00 price target for the company. Zacks Research upgraded Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Friday, September 12th. B. Riley restated a "neutral" rating and issued a $44.50 price target on shares of Golar LNG in a research note on Monday, August 25th. Finally, Wall Street Zen upgraded Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $50.38.

Golar LNG Stock Performance

Shares of GLNG stock opened at $38.21 on Wednesday. The stock has a market cap of $3.99 billion, a PE ratio of -545.78 and a beta of 0.22. The business has a 50-day simple moving average of $41.33 and a 200-day simple moving average of $40.22. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. Golar LNG has a 52-week low of $29.56 and a 52-week high of $45.98.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. On average, equities analysts expect that Golar LNG will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company's stock valued at $41,000 after acquiring an additional 300 shares during the last quarter. Signaturefd LLC lifted its holdings in Golar LNG by 64.6% in the second quarter. Signaturefd LLC now owns 856 shares of the shipping company's stock valued at $35,000 after acquiring an additional 336 shares during the last quarter. Fox Run Management L.L.C. lifted its holdings in Golar LNG by 5.4% in the first quarter. Fox Run Management L.L.C. now owns 7,115 shares of the shipping company's stock valued at $270,000 after acquiring an additional 362 shares during the last quarter. Xponance Inc. lifted its holdings in Golar LNG by 4.8% in the first quarter. Xponance Inc. now owns 8,515 shares of the shipping company's stock valued at $323,000 after acquiring an additional 387 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in Golar LNG by 6.1% in the second quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company's stock valued at $281,000 after acquiring an additional 395 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Golar LNG

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.

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