$89.36 Million in Sales Expected for Golar LNG Partners LP (GMLP) This Quarter

Equities analysts expect Golar LNG Partners LP (NASDAQ:GMLP) to announce $89.36 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Golar LNG Partners’ earnings, with the highest sales estimate coming in at $92.20 million and the lowest estimate coming in at $85.83 million. Golar LNG Partners posted sales of $114.94 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 22.3%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 27th.

On average, analysts expect that Golar LNG Partners will report full-year sales of $89.36 million for the current fiscal year, with estimates ranging from $422.70 million to $443.70 million. For the next year, analysts anticipate that the firm will report sales of $415.23 million per share, with estimates ranging from $330.55 million to $475.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Golar LNG Partners.

Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings data on Monday, December 11th. The shipping company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Golar LNG Partners had a return on equity of 25.88% and a net margin of 38.29%.

GMLP has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Stifel Nicolaus upgraded shares of Golar LNG Partners from a “hold” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $25.00 in a research note on Monday, December 18th. ABN Amro initiated coverage on shares of Golar LNG Partners in a research note on Monday, October 30th. They issued a “buy” rating for the company. Jefferies Group initiated coverage on shares of Golar LNG Partners in a research note on Monday, December 18th. They issued a “buy” rating and a $26.00 target price for the company. Finally, BidaskClub upgraded shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $23.75.

Golar LNG Partners (NASDAQ:GMLP) traded down $0.50 on Friday, hitting $22.41. 256,700 shares of the stock traded hands, compared to its average volume of 233,567. The stock has a market capitalization of $1,570.00, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 2.01 and a beta of 0.87. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.01 and a quick ratio of 1.00. Golar LNG Partners has a 52-week low of $18.77 and a 52-week high of $25.82.

Several institutional investors and hedge funds have recently bought and sold shares of GMLP. Alliancebernstein L.P. increased its stake in shares of Golar LNG Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock worth $205,000 after purchasing an additional 572 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in Golar LNG Partners during the second quarter valued at approximately $2,821,000. Northern Trust Corp grew its stake in Golar LNG Partners by 15.6% during the second quarter. Northern Trust Corp now owns 62,288 shares of the shipping company’s stock valued at $1,249,000 after acquiring an additional 8,405 shares in the last quarter. FMR LLC grew its stake in Golar LNG Partners by 4.7% during the second quarter. FMR LLC now owns 1,251,660 shares of the shipping company’s stock valued at $25,121,000 after acquiring an additional 55,760 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Golar LNG Partners by 0.4% during the second quarter. California Public Employees Retirement System now owns 168,300 shares of the shipping company’s stock valued at $3,378,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 46.85% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “$89.36 Million in Sales Expected for Golar LNG Partners LP (GMLP) This Quarter” was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://sportsperspectives.com/2018/01/19/89-36-million-in-sales-expected-for-golar-lng-partners-lp-gmlp-this-quarter.html.

About Golar LNG Partners

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.

Get a free copy of the Zacks research report on Golar LNG Partners (GMLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Golar LNG Partners (NASDAQ:GMLP)

Receive News & Ratings for Golar LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply