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Flex LNG (FLNG) Outpaces Stock Market Gains: What You Should Know
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Flex LNG (FLNG - Free Report) closed the most recent trading day at $33.69, moving +0.81% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq lost 2.19%.
Coming into today, shares of the liquefied natural gas shipping company had gained 0.09% in the past month. In that same time, the Transportation sector lost 3.15%, while the S&P 500 gained 3.13%.
Flex LNG will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $90.4 million, up 21.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.03 per share and revenue of $370.22 million, which would represent changes of +7.45% and +6.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Flex LNG should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Flex LNG is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Flex LNG currently has a Forward P/E ratio of 11.03. This valuation marks a premium compared to its industry's average Forward P/E of 6.1.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% 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.
To follow FLNG in the coming trading sessions, be sure to utilize Zacks.com.
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Flex LNG (FLNG) Outpaces Stock Market Gains: What You Should Know
Flex LNG (FLNG - Free Report) closed the most recent trading day at $33.69, moving +0.81% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq lost 2.19%.
Coming into today, shares of the liquefied natural gas shipping company had gained 0.09% in the past month. In that same time, the Transportation sector lost 3.15%, while the S&P 500 gained 3.13%.
Flex LNG will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $90.4 million, up 21.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.03 per share and revenue of $370.22 million, which would represent changes of +7.45% and +6.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Flex LNG should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Flex LNG is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Flex LNG currently has a Forward P/E ratio of 11.03. This valuation marks a premium compared to its industry's average Forward P/E of 6.1.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% 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.
To follow FLNG in the coming trading sessions, be sure to utilize Zacks.com.