Wall Street analysts expect Golar LNG Limited (NASDAQ:GLNG) to announce sales of $63.15 million for the current quarter, Zacks reports. Four analysts have provided estimates for Golar LNG’s earnings. The highest sales estimate is $82.50 million and the lowest is $46.50 million. Golar LNG posted sales of $28.41 million during the same quarter last year, which suggests a positive year-over-year growth rate of 122.3%. The firm is expected to report its next earnings report on Wednesday, August 29th.

On average, analysts expect that Golar LNG will report full-year sales of $316.40 million for the current fiscal year, with estimates ranging from $244.50 million to $371.57 million. For the next fiscal year, analysts anticipate that the business will post sales of $464.55 million per share, with estimates ranging from $325.30 million to $558.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Golar LNG.

Golar LNG (NASDAQ:GLNG) last announced its earnings results on Thursday, May 31st. The shipping company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). Golar LNG had a negative net margin of 73.05% and a negative return on equity of 7.10%. The business had revenue of $66.19 million for the quarter, compared to analyst estimates of $60.45 million.

Several research analysts recently issued reports on GLNG shares. ValuEngine raised Golar LNG from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. BidaskClub raised Golar LNG from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. BTIG Research started coverage on Golar LNG in a research report on Wednesday, July 18th. They set a “buy” rating and a $35.00 target price on the stock. Morgan Stanley set a $31.00 target price on Golar LNG and gave the company a “buy” rating in a research report on Friday, June 1st. Finally, Citigroup reduced their target price on Golar LNG from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, June 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.86.

NASDAQ:GLNG traded down $0.24 during mid-day trading on Monday, hitting $23.65. 2,435,844 shares of the company’s stock traded hands, compared to its average volume of 1,230,811. Golar LNG has a twelve month low of $19.32 and a twelve month high of $35.54. The firm has a market capitalization of $2.54 billion, a P/E ratio of -16.09 and a beta of 0.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.28 and a quick ratio of 0.28.

A number of institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Golar LNG by 0.3% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,658,882 shares of the shipping company’s stock valued at $182,188,000 after purchasing an additional 18,400 shares during the last quarter. BlackRock Inc. grew its stake in Golar LNG by 3.2% during the 2nd quarter. BlackRock Inc. now owns 4,457,465 shares of the shipping company’s stock valued at $131,317,000 after purchasing an additional 140,201 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in Golar LNG during the 2nd quarter valued at about $46,072,000. Perella Weinberg Partners Capital Management LP grew its stake in Golar LNG by 76.1% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 1,403,022 shares of the shipping company’s stock valued at $41,333,000 after purchasing an additional 606,504 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Golar LNG during the 2nd quarter valued at about $36,412,000. Institutional investors and hedge funds own 79.31% of the company’s stock.

Golar LNG Company Profile

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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Earnings History and Estimates for Golar LNG (NASDAQ:GLNG)

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