Golar LNG (NASDAQ:GLNG) Lowered to “Strong Sell” at BidaskClub

BidaskClub cut shares of Golar LNG (NASDAQ:GLNG) from a sell rating to a strong sell rating in a research note released on Thursday morning, BidAskClub reports.

A number of other equities research analysts also recently commented on the stock. Cowen reiterated an outperform rating and set a $22.00 price target (down from $30.00) on shares of Golar LNG in a report on Tuesday, June 25th. ValuEngine upgraded shares of Golar LNG from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Golar LNG from a hold rating to a buy rating and set a $22.00 price target for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $32.11.

Shares of NASDAQ GLNG traded down $0.70 during midday trading on Thursday, reaching $13.39. 1,168,188 shares of the stock were exchanged, compared to its average volume of 1,079,447. The stock has a market capitalization of $1.43 billion, a P/E ratio of -35.24 and a beta of 0.66. Golar LNG has a 52-week low of $13.23 and a 52-week high of $30.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The stock’s 50 day simple moving average is $17.15.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Tuesday, May 21st. The shipping company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). The firm had revenue of $97.79 million for the quarter, compared to analysts’ expectations of $88.87 million. Golar LNG had a negative return on equity of 2.93% and a negative net margin of 52.68%. Research analysts predict that Golar LNG will post -0.63 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new stake in Golar LNG in the fourth quarter valued at approximately $94,000. Cerebellum GP LLC grew its holdings in Golar LNG by 116.1% in the first quarter. Cerebellum GP LLC now owns 14,720 shares of the shipping company’s stock valued at $310,000 after purchasing an additional 7,908 shares during the period. Norges Bank purchased a new stake in Golar LNG in the fourth quarter valued at approximately $8,009,000. Marshall Wace LLP grew its holdings in Golar LNG by 13.1% in the first quarter. Marshall Wace LLP now owns 305,542 shares of the shipping company’s stock valued at $6,444,000 after purchasing an additional 35,292 shares during the period. Finally, Fort Sheridan Advisors LLC purchased a new stake in Golar LNG in the first quarter valued at approximately $317,000. Hedge funds and other institutional investors own 72.09% 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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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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