Yahoo Finance Golar LNG (GLNG) Surges 5.5%: Is This an Indication of Further Gains?
Golar LNG (GLNG) shares rallied 5.5% in the last trading session to close at $30.47. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.4% gain over the past four weeks.
Golar LNG is the sole provider of floating LNG or liquefied natural gas as a service. GLNG ranks first in terms of FLNG capacity. The FLNG market is growing due to its economic viability and is expected to display significant capacity growth, particularly in Africa and North America. The buoyant nature of the FLNG market has resulted in the GLNG stock gaining 33% year to date.
This operator of carriers for natural gas shipping is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of -29%. Revenues are expected to be $67.38 million, down 12.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Golar LNG, the consensus EPS estimate for the quarter has been revised 0.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GLNG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Golar LNG is part of the Zacks Transportation - Shipping industry. A.P. Moller-Maersk (AMKBY), another stock in the same industry, closed the last trading session 2.2% higher at $8.32. AMKBY has returned -9.4% in the past month.
For A.P. Moller-Maersk , the consensus EPS estimate for the upcoming report has changed -68.4% over the past month to $0.03. This represents a change of -25% from what the company reported a year ago. A.P. Moller-Maersk currently has a Zacks Rank of #3 (Hold).
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Golar LNG Limited (GLNG) : Free Stock Analysis Report
A.P. Moller-Maersk (AMKBY) : Free Stock Analysis Report
