$0.09 Earnings Per Share Expected for Golar LNG Partners (GMLP) This Quarter

Equities research analysts forecast that Golar LNG Partners (NASDAQ:GMLP) will post $0.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Golar LNG Partners’ earnings. The lowest EPS estimate is $0.02 and the highest is $0.16. Golar LNG Partners posted earnings per share of $0.35 in the same quarter last year, which suggests a negative year over year growth rate of 74.3%. The company 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 earnings of $1.16 per share for the current financial year, with EPS estimates ranging from $0.98 to $1.55. For the next year, analysts expect that the firm will report earnings of $1.29 per share, with EPS estimates ranging from $0.74 to $2.00. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Golar LNG Partners.

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Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.10. Golar LNG Partners had a net margin of 29.85% and a return on equity of 17.19%. The business had revenue of $90.11 million during the quarter, compared to analyst estimates of $87.09 million.

Several equities research analysts recently issued reports on GMLP shares. Stifel Nicolaus raised shares of Golar LNG Partners from a “hold” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $25.00 in a research note on Monday, December 18th. Jefferies Group started coverage on shares of Golar LNG Partners in a research note on Monday, December 18th. They issued a “buy” rating and a $26.00 price objective for the company. Bank of America reduced their price objective on shares of Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, March 5th. ValuEngine lowered shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, BidaskClub raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.60.

GMLP stock opened at $18.34 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.73 and a quick ratio of 1.71. Golar LNG Partners has a 1 year low of $16.78 and a 1 year high of $23.49. The firm has a market capitalization of $1,305.66, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91.

Golar LNG Partners declared that its Board of Directors has approved a stock repurchase program on Monday, March 5th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the shipping company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in Golar LNG Partners by 2.1% in the 4th quarter. Wells Fargo & Company MN now owns 130,671 shares of the shipping company’s stock worth $2,978,000 after acquiring an additional 2,631 shares during the period. California Public Employees Retirement System raised its holdings in Golar LNG Partners by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 154,810 shares of the shipping company’s stock worth $3,530,000 after acquiring an additional 2,679 shares during the period. BNP Paribas Arbitrage SA bought a new position in Golar LNG Partners in the 3rd quarter worth $108,000. SeaCrest Wealth Management LLC bought a new position in Golar LNG Partners in the 4th quarter worth $107,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Golar LNG Partners by 47.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,541 shares of the shipping company’s stock worth $446,000 after acquiring an additional 6,300 shares during the period. Hedge funds and other institutional investors own 43.99% of the company’s stock.

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About Golar LNG Partners

Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.

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