Zacks: Brokerages Anticipate Golar LNG Partners LP (GMLP) Will Post Quarterly Sales of $76.09 Million

Wall Street analysts expect that Golar LNG Partners LP (NASDAQ:GMLP) will post sales of $76.09 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Golar LNG Partners’ earnings, with estimates ranging from $72.96 million to $80.10 million. Golar LNG Partners reported sales of $101.39 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The business is expected to issue its next earnings results on Wednesday, May 30th.

According to Zacks, analysts expect that Golar LNG Partners will report full year sales of $76.09 million for the current financial year, with estimates ranging from $331.76 million to $452.60 million. For the next financial year, analysts expect that the company will report sales of $413.98 million per share, with estimates ranging from $337.69 million to $498.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Golar LNG Partners.

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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). The firm had revenue of $105.64 million during the quarter, compared to the consensus estimate of $96.00 million. Golar LNG Partners had a return on equity of 17.19% and a net margin of 29.85%.

A number of equities analysts have issued reports on GMLP shares. BidaskClub downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Stifel Nicolaus upgraded Golar LNG Partners from a “hold” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $25.00 in a report on Monday, December 18th. Seaport Global Securities restated a “hold” rating and set a $21.00 price target on shares of Golar LNG Partners in a report on Tuesday, February 27th. ValuEngine downgraded Golar LNG Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $23.60.

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Golar LNG Partners by 37.5% during the third quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock valued at $15,110,000 after acquiring an additional 181,868 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Golar LNG Partners by 16.5% during the fourth quarter. First Trust Advisors LP now owns 464,238 shares of the shipping company’s stock valued at $10,585,000 after buying an additional 65,759 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Golar LNG Partners by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 159,098 shares of the shipping company’s stock valued at $3,627,000 after buying an additional 48,191 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Golar LNG Partners by 1.8% during the fourth quarter. California Public Employees Retirement System now owns 154,810 shares of the shipping company’s stock valued at $3,530,000 after buying an additional 2,679 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Golar LNG Partners by 67.1% during the fourth quarter. BlackRock Inc. now owns 150,648 shares of the shipping company’s stock valued at $3,434,000 after buying an additional 60,476 shares during the last quarter. Hedge funds and other institutional investors own 44.34% of the company’s stock.

Golar LNG Partners (NASDAQ GMLP) opened at $19.07 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.73 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $1,320.00, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. Golar LNG Partners has a twelve month low of $18.49 and a twelve month high of $23.49.

Golar LNG Partners declared that its Board of Directors has authorized a stock repurchase plan on Monday, March 5th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the shipping company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.5775 per share. The ex-dividend date was Tuesday, February 6th. This represents a $2.31 annualized dividend and a dividend yield of 12.11%. Golar LNG Partners’s payout ratio is presently 122.87%.

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Golar LNG Partners Company Profile

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.

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

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