FLEX LNG (NYSE:FLNG) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

FLEX LNG (NYSE:FLNG) posted its quarterly earnings results on Thursday. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.15, reports. The firm had revenue of $90.24 million during the quarter. FLEX LNG had a return on equity of 16.20% and a net margin of 37.08%.

FLEX LNG Trading Up 3.3 %

FLNG stock opened at $29.45 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.86 and a current ratio of 2.89. FLEX LNG has a 1-year low of $24.16 and a 1-year high of $33.33. The business has a fifty day moving average price of $26.55 and a 200-day moving average price of $27.93.

FLEX LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date of this dividend is Monday, June 10th. FLEX LNG’s payout ratio is 118.11%.

Institutional Trading of FLEX LNG

A number of institutional investors have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in FLEX LNG during the third quarter valued at $64,000. Virtu Financial LLC purchased a new stake in shares of FLEX LNG during the 4th quarter valued at about $200,000. Prosperity Wealth Management Inc. bought a new position in shares of FLEX LNG in the 4th quarter worth approximately $206,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of FLEX LNG by 13.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,541 shares of the company’s stock worth $218,000 after buying an additional 993 shares during the last quarter. Finally, Colonial River Wealth Management LLC purchased a new position in shares of FLEX LNG in the fourth quarter worth approximately $226,000.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised their price objective on shares of FLEX LNG from $23.00 to $25.00 and gave the company an “underperform” rating in a research note on Thursday.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.