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Golar LNG (GLNG) Moves 6.1% Higher: Will This Strength Last?
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Golar LNG (GLNG - Free Report) shares ended the last trading session 6.1% higher at $36.36. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.4% 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. Recently, GLNG inked a deal with Pan American Energy or PAE,a leading integrated energy company in Latin America that holds interests across the whole hydrocarbon value chain,to station a FLNG vessel in Argentina for 20 years. This FLNG project will monetize Argentine gas by utilizing the vast resources of the Vaca Muerta shale formation in the Neuquina Basin, the world's second-largest shale gas resource. GLNG aims to start LNG exports by 2027, establishing Argentina as an LNG exporter. The project will utilize Golar’s FLNG Hilli, which has a nameplate capacity of 2.45 million tons per annum. Driven by the buoyancy surrounding the FLNG market, GLNG shares have gained 58% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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.
Golar LNG belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, ZIM Integrated Shipping Services (ZIM - Free Report) , closed the last trading session 3% higher at $18.29. Over the past month, ZIM has returned -12.4%.
ZIM's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.83. Compared to the company's year-ago EPS, this represents a change of +160.6%. ZIM currently boasts a Zacks Rank of #2 (Buy).
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Golar LNG (GLNG) Moves 6.1% Higher: Will This Strength Last?
Golar LNG (GLNG - Free Report) shares ended the last trading session 6.1% higher at $36.36. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.4% 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. Recently, GLNG inked a deal with Pan American Energy or PAE,a leading integrated energy company in Latin America that holds interests across the whole hydrocarbon value chain,to station a FLNG vessel in Argentina for 20 years. This FLNG project will monetize Argentine gas by utilizing the vast resources of the Vaca Muerta shale formation in the Neuquina Basin, the world's second-largest shale gas resource. GLNG aims to start LNG exports by 2027, establishing Argentina as an LNG exporter. The project will utilize Golar’s FLNG Hilli, which has a nameplate capacity of 2.45 million tons per annum. Driven by the buoyancy surrounding the FLNG market, GLNG shares have gained 58% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Golar LNG belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, ZIM Integrated Shipping Services (ZIM - Free Report) , closed the last trading session 3% higher at $18.29. Over the past month, ZIM has returned -12.4%.
ZIM's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.83. Compared to the company's year-ago EPS, this represents a change of +160.6%. ZIM currently boasts a Zacks Rank of #2 (Buy).