FLEX LNG (NYSE:FLNG) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

FLEX LNG (NYSE:FLNG) posted its quarterly earnings data on Tuesday. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06, Zacks reports. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. During the same quarter last year, the firm earned $0.70 earnings per share.

FLEX LNG Stock Down 3.4 %

NYSE:FLNG traded down $0.87 during mid-day trading on Thursday, reaching $25.11. The stock had a trading volume of 215,359 shares, compared to its average volume of 429,498. The stock has a market cap of $1.35 billion, a P/E ratio of 14.80 and a beta of 0.70. FLEX LNG has a fifty-two week low of $20.85 and a fifty-two week high of $30.48. The business’s 50 day moving average is $23.86 and its 200 day moving average is $25.15. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.21 and a quick ratio of 2.18.

FLEX LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.95%. The ex-dividend date of this dividend is Thursday, February 20th. FLEX LNG’s dividend payout ratio (DPR) is 176.47%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price objective on shares of FLEX LNG in a research note on Tuesday.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.