Golar LNG Limited (NASDAQ:GLNG – Get Rating) has earned a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $31.88.
A number of brokerages have commented on GLNG. StockNews.com began coverage on Golar LNG in a research note on Wednesday, October 12th. They issued a "hold" rating on the stock. Bank of America upgraded Golar LNG from a "neutral" rating to a "buy" rating and boosted their target price for the company from $23.00 to $29.00 in a research note on Thursday, September 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Golar LNG from $17.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 17th.
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Hedge Funds Weigh In On Golar LNG
Several institutional investors and hedge funds have recently added to or reduced their stakes in GLNG. Paragon Wealth Strategies LLC bought a new position in Golar LNG during the third quarter valued at about $25,000. Atlas Capital Advisors LLC bought a new stake in shares of Golar LNG in the 3rd quarter valued at approximately $31,000. Cohanzick Management LLC bought a new stake in shares of Golar LNG in the 1st quarter valued at approximately $37,000. Captrust Financial Advisors grew its stake in shares of Golar LNG by 1,152.5% in the 1st quarter. Captrust Financial Advisors now owns 2,292 shares of the shipping company's stock valued at $57,000 after purchasing an additional 2,109 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Golar LNG in the 2nd quarter valued at approximately $62,000. 72.45% of the stock is currently owned by institutional investors.
Golar LNG Stock Performance
Shares of NASDAQ GLNG opened at $23.46 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 3.50 and a beta of 0.63. The stock's fifty day simple moving average is $23.54 and its 200 day simple moving average is $24.75. Golar LNG has a 52-week low of $12.14 and a 52-week high of $30.66.
Golar LNG (NASDAQ:GLNG – Get Rating) last issued its quarterly earnings results on Wednesday, November 16th. The shipping company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. Golar LNG had a return on equity of 5.91% and a net margin of 218.75%. The business had revenue of $67.91 million for the quarter, compared to the consensus estimate of $66.18 million. As a group, sell-side analysts forecast that Golar LNG will post 1.03 earnings per share for the current fiscal year.
Golar LNG Company Profile
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Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.
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