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NYSE:FLNG

FLEX LNG (FLNG) Stock Price, News & Analysis

$25.40
+0.20 (+0.79%)
(As of 01:39 PM ET)
Today's Range
$25.00
$25.68
50-Day Range
$24.36
$31.26
52-Week Range
$24.16
$35.86
Volume
278,785 shs
Average Volume
422,055 shs
Market Capitalization
N/A
P/E Ratio
11.39
Dividend Yield
11.81%
Price Target
$23.00

FLEX LNG MarketRank™ Stock Analysis

Analyst Rating
Sell
1.00 Rating Score
Upside/​Downside
8.9% Downside
$23.00 Price Target
Short Interest
Bearish
5.33% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
-0.25mentions of FLEX LNG in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
9.02%
From $2.55 to $2.78 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

0.60 out of 5 stars

FLNG stock logo

About FLEX LNG Stock (NYSE:FLNG)

Flex LNG Ltd. is an emerging leader in the sea-borne transport of liquified natural gas. Liquified natural gas is an economically feasible manner to ship natural gas, but it requires processing at both ends of the shipping process. The company’s objective is to outperform industry peers by focusing on the newest, most efficient vessel types that are available. In regard to reducing global emissions, LNG is the most efficient use of hydrocarbons available, and it is coming under increasingly heavy demand.

Flex LNG was formally launched in 2006 with a British Virgin Islands registration. The company IPOd with a listing in Norway in 2009, and it has been in operation ever since. In 2017 the company redomiciled itself to Bermuda which led to listing on the Oslo stock exchange and then the New York Stock Exchange in 2019.

In 2019 the company also shifted away from rented vessels to in-house management. The company now operates and maintains 13 of its own fuel-efficient LNG carriers including 9 M-type and 4 X-DF-type vessels. The management company’s home port is Oslo, Norway.

Up until 2010, the bulk of LNG carriers were using steam-powered turbines to drive the propulsion systems. That began to change in the early 2000s and then in 2010, a major advancement was made. Engineers began designing slow-speed two-stroke dual-fuel engines that burn a blend of natural gas and marine diesel (or other fuels) highly efficiently.

The two types are M and X-DF which are based on high and low-pressure systems. M-type or MEGI LNG vessels are designed to be significantly more fuel-efficient than the then-current standard and offer appreciable savings to operators. X-DF vessels are another type of fuel-efficient LNG vessel that capitalize on low-pressure technology used by other engine types. The engines also provide greater flexibility because they can burn different types of fuels depending on operating costs.

Today Flex LNG and its network of subsidiaries provide seaborne transportation of liquified natural gas globally. The company also offers chartering and management services to other natural gas carriers. The company does not have an official dividend policy but it aims to distribute free cash to investors as it becomes available. There is a dividend reinvestment plan for shareholders of record. The stock only has 1 class of shares, ordinary, that come with a par of $0.10 following a reverse stock split that was enacted in 2019.

Business is supported by the growing global demand for natural gas and LNG. The company's shipping schedule tends to stay booked out 2 to 3 years from the present with many ships booked on charters/routes for 5 or more years. One deal, with Cheniere Energy, allows for up to 19 years of use and the charter can be extended if needed. This provides a stable and steady revenue stream for the company and dividends for investors. Institutional ownership in this stock tends to run high as well. Total revenue in 2022 was $26 billion and expected to grow at a near10% CAGR.

FLNG Stock Price History

FLNG Stock News Headlines

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See More Headlines
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Company Calendar

Ex-Dividend for 12/8 Dividend
11/27/2023
Dividend Payable
12/08/2023
Last Earnings
2/07/2024
Ex-Dividend for 3/8 Dividend
2/22/2024
Today
2/29/2024
Dividend Payable
3/08/2024
Next Earnings (Estimated)
5/21/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Water transportation
Sub-Industry
N/A
Employees
9
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$23.00
High Stock Price Target
$23.00
Low Stock Price Target
$23.00
Potential Upside/Downside
-8.7%
Consensus Rating
Sell
Rating Score (0-4)
1.00
Research Coverage
1 Analysts

Profitability

Net Income
$120.04 million
Pretax Margin
32.38%

Debt

Sales & Book Value

Annual Sales
$371.02 million
Cash Flow
$4.32 per share
Book Value
$17.05 per share

Miscellaneous

Free Float
N/A
Optionable
Optionable
Beta
0.83
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Key Executives

  • Mr. Oystein M. Kalleklev (Age 44)
    Principal Executive Officer
    Comp: $740.92k
  • Mr. Knut Traaholt (Age 45)
    Principal Financial Officer
    Comp: $331.21k
  • Ms. Jannicke Eilertsen
    Compliance Officer
  • Mr. H. Marius Foss
    Chief Commercial Officer of Flex LNG Management AS
  • Mr. Lars Pedersen
    Chief Technical Officer of Frontline Management & MD of Flex Fleet Management
  • Mr. Fergus Bristow
    Chief Accounting Officer of Flex LNG Management Ltd
  • Mr. James Ayers
    Company Secretary














FLNG Stock Analysis - Frequently Asked Questions

Should I buy or sell FLEX LNG stock right now?

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for FLEX LNG in the last twelve months. There are currently 1 sell rating for the stock. The consensus among Wall Street equities research analysts is that investors should "sell" FLNG shares.
View FLNG analyst ratings
or view top-rated stocks.

What is FLEX LNG's stock price target for 2024?

1 Wall Street research analysts have issued 1-year price targets for FLEX LNG's shares. Their FLNG share price targets range from $23.00 to $23.00. On average, they anticipate the company's stock price to reach $23.00 in the next year. This suggests that the stock has a possible downside of 8.9%.
View analysts price targets for FLNG
or view top-rated stocks among Wall Street analysts.

How have FLNG shares performed in 2024?

FLEX LNG's stock was trading at $29.06 at the beginning of 2024. Since then, FLNG stock has decreased by 13.1% and is now trading at $25.25.
View the best growth stocks for 2024 here
.

Are investors shorting FLEX LNG?

FLEX LNG saw a increase in short interest in the month of January. As of January 31st, there was short interest totaling 1,670,000 shares, an increase of 9.9% from the January 15th total of 1,520,000 shares. Based on an average daily trading volume, of 348,300 shares, the days-to-cover ratio is currently 4.8 days. Currently, 5.5% of the company's shares are sold short.
View FLEX LNG's Short Interest
.

When is FLEX LNG's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 21st 2024.
View our FLNG earnings forecast
.

How were FLEX LNG's earnings last quarter?

FLEX LNG Ltd. (NYSE:FLNG) released its quarterly earnings results on Wednesday, February, 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The firm earned $97.23 million during the quarter, compared to analyst estimates of $98.38 million. FLEX LNG had a trailing twelve-month return on equity of 15.86% and a net margin of 32.35%. During the same quarter in the prior year, the company posted $1.02 EPS.

How often does FLEX LNG pay dividends? What is the dividend yield for FLEX LNG?

FLEX LNG declared a quarterly dividend on Tuesday, February 6th. Investors of record on Friday, February 23rd will be given a dividend of $0.75 per share on Friday, March 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.88%. The ex-dividend date of this dividend is Thursday, February 22nd.
Read our dividend analysis for FLNG
.

Is FLEX LNG a good dividend stock?

FLEX LNG (NYSE:FLNG) pays an annual dividend of $3.00 per share and currently has a dividend yield of 12.31%. FLNG has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 134.53%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, FLNG will have a dividend payout ratio of 107.91% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for FLNG.

Who are FLEX LNG's major shareholders?

FLEX LNG's stock is owned by a number of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (0.00%), Mirae Asset Global Investments Co. Ltd. (0.00%), Citadel Advisors LLC (0.00%), Northern Trust Corp (0.00%), Gilman Hill Asset Management LLC (0.00%) and Bridgeway Capital Management LLC (0.00%).

How do I buy shares of FLEX LNG?

Shares of FLNG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:FLNG) was last updated on 2/29/2024 by MarketBeat.com Staff

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