FLEX LNG Ltd. (NYSE:FLNG – Get Rating) has been assigned a consensus recommendation of “Hold” by the six ratings companies that cover the stock, reports Marketbeat Ratings. Five investment analysts gave the stock a holding rating. The average 1-year price target among analysts who have covered the stock over the past year is $280.00.
Several brokerages have recently released reports on FLNG. Danske downgraded FLEX LNG’s shares from a “buy” rating to a “hold” rating in a Thursday, August 25 research note. SEB Equities upgraded FLEX LNG from a “buy” to a “hold” rating in a Wednesday, June 8 research note. SEB Equity Research has downgraded the shares of FLEX LNG from a “buy” rating to a “hold” rating and has set a price target of $280.00 for the stock. in a report on Wednesday, June 8. TheStreet upgraded the shares of FLEX LNG from a “d” rating to a “b-” rating in a Monday, June 13 research report. Finally, Jefferies Financial Group launched coverage on FLEX LNG in a research report on Wednesday, July 20. They issued a “hold” rating on the stock.
Institutional entries and exits
Major investors have recently increased or reduced their stakes in the company. Clear Street Markets LLC purchased a new equity stake in FLEX LNG in Q2 for $25,000. National Bank of Canada FI bought a new position in shares of FLEX LNG in the first quarter at a value of $32,000. Baldwin Brothers LLC MA bought a new stock position in FLEX LNG in the second quarter worth $68,000. Skandinaviska Enskilda Banken AB publ increased its position in FLEX LNG shares by 104.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 4,665 shares in the company worth $133,000 after acquiring 2,380 additional shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in FLEX LNG shares by 135.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,749 shares of the company worth $134,000 after acquiring 2,729 additional shares in the last quarter. Institutional investors hold 20.79% of the company’s shares.
Price performance of FLEX LNG
FLNG shares opened at $32.13 on Monday. The company has a fifty-day moving average of $32.25 and a 200-day moving average of $28.79. The company has a quick ratio of 2.50, a current ratio of 2.54 and a debt ratio of 1.80. The company has a market capitalization of $1.71 billion, a price-earnings ratio of 8.46 and a beta of 1.07. FLEX LNG has a 12 month minimum of $15.85 and a 12 month maximum of $36.99.
FLEX LNG (NYSE:FLNG – Get Rating) last announced its results on Wednesday August 24th. The company reported earnings per share (EPS) of $0.61 for the quarter. The company had revenue of $84.16 million for the quarter. FLEX LNG had a return on equity of 16.96% and a net margin of 56.96%. On average, equity research analysts expect FLEX LNG to post earnings per share of 2.63 for the current year.
FLEX LNG announces dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13. Shareholders of record on Thursday, September 8 received a dividend of $0.75. This represents a dividend of $3.00 on an annualized basis and a yield of 9.34%. The ex-dividend date was Wednesday, September 7. FLEX LNG’s dividend payout ratio is currently 78.95%.
FLEX LNG Company Profile
(Get a rating)
Flex LNG Ltd., through its subsidiaries, is engaged in the marine transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine Type M electronically controlled gas injection LNG carriers; and four vessels fitted with Gen X dual-fuel propulsion systems. It also provides charter and management services.
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