In the latest trading session, Golar LNG (GLNG) closed at $21.57, marking a -1.42% move from the previous day. This change lagged the S&P 500's daily loss of 0.64%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 4.13%.
Coming into today, shares of the operator of carriers for natural gas shipping had lost 1.48% in the past month. In that same time, the Transportation sector lost 1.74%, while the S&P 500 gained 0.13%.
Wall Street will be looking for positivity from Golar LNG as it approaches its next earnings report date. In that report, analysts expect Golar LNG to post earnings of $1.19 per share. This would mark year-over-year growth of 250%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $72.97 million, down 5.56% from the year-ago period.
GLNG's full-year Zacks Consensus Estimates are calling for earnings of $3.04 per share and revenue of $268.3 million. These results would represent year-over-year changes of +87.65% and +0.21%, respectively.
It is also important to note the recent changes to analyst estimates for Golar LNG. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 26.67% higher within the past month. Golar LNG is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Golar LNG has a Forward P/E ratio of 7.23 right now. For comparison, its industry has an average Forward P/E of 5.81, which means Golar LNG is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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