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Golar LNG (GLNG) Stock Moves -0.28%: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Golar LNG (GLNG) closed at $24.66, marking a -0.28% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.11%. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.

Prior to today's trading, shares of the operator of carriers for natural gas shipping had lost 9.31% over the past month. This has was narrower than the Transportation sector's loss of 12.82% and lagged the S&P 500's loss of 8.19% in that time.

Investors will be hoping for strength from Golar LNG as it approaches its next earnings release. On that day, Golar LNG is projected to report earnings of $0.24 per share, which would represent year-over-year growth of 2500%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $64.95 million, down 38.37% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.99 per share and revenue of $270.88 million. These totals would mark changes of -40% and -38.62%, respectively, from last year.

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Any recent changes to analyst estimates for Golar LNG should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golar LNG is currently sporting a Zacks Rank of #2 (Buy).

Investors should also note Golar LNG's current valuation metrics, including its Forward P/E ratio of 24.98. This valuation marks a premium compared to its industry's average Forward P/E of 3.07.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

To follow GLNG in the coming trading sessions, be sure to utilize Zacks.com.


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Golar LNG Limited (GLNG) : Free Stock Analysis Report
 
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Zacks Investment Research