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Flex LNG (FLNG) Gains But Lags Market: What You Should Know
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Flex LNG (FLNG - Free Report) closed the most recent trading day at $33.22, moving +0.3% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Heading into today, shares of the liquefied natural gas shipping company had lost 11.96% over the past month, lagging the Transportation sector's loss of 3.4% and the S&P 500's loss of 4.4% in that time.
Investors will be hoping for strength from Flex LNG as it approaches its next earnings release. In that report, analysts expect Flex LNG to post earnings of $0.67 per share. This would mark a year-over-year decline of 43.22%. Our most recent consensus estimate is calling for quarterly revenue of $91.65 million, down 20.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.52 per share and revenue of $339.34 million, which would represent changes of -7.01% and -1.2%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Flex LNG. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Flex LNG is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Flex LNG has a Forward P/E ratio of 13.14 right now. For comparison, its industry has an average Forward P/E of 3.7, which means Flex 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 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Flex LNG (FLNG) Gains But Lags Market: What You Should Know
Flex LNG (FLNG - Free Report) closed the most recent trading day at $33.22, moving +0.3% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Heading into today, shares of the liquefied natural gas shipping company had lost 11.96% over the past month, lagging the Transportation sector's loss of 3.4% and the S&P 500's loss of 4.4% in that time.
Investors will be hoping for strength from Flex LNG as it approaches its next earnings release. In that report, analysts expect Flex LNG to post earnings of $0.67 per share. This would mark a year-over-year decline of 43.22%. Our most recent consensus estimate is calling for quarterly revenue of $91.65 million, down 20.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.52 per share and revenue of $339.34 million, which would represent changes of -7.01% and -1.2%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Flex LNG. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Flex LNG is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Flex LNG has a Forward P/E ratio of 13.14 right now. For comparison, its industry has an average Forward P/E of 3.7, which means Flex 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 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.