What’s Ahead for Golar LNG Partners LP (GMLP) After Achieving Yearly Low?

March 14, 2018 - By Adrian Mccoy

The stock of Golar LNG Partners LP (NASDAQ:GMLP) hit a new 52-week low and has $17.01 target or 7.00 % below today’s $18.29 share price. The 8 months bearish chart indicates high risk for the $1.30 billion company. The 1-year low was reported on Mar, 14 by Barchart.com. If the $17.01 price target is reached, the company will be worth $91.14 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 1.42% or $0.26 during the last trading session, reaching $18.29. About 431,208 shares traded or 32.48% up from the average. Golar LNG Partners LP (NASDAQ:GMLP) has risen 23.40% since March 14, 2017 and is uptrending. It has outperformed by 6.70% the S&P500.

Analysts await Golar LNG Partners LP (NASDAQ:GMLP) to report earnings on May, 30. They expect $0.09 EPS, down 74.29 % or $0.26 from last year’s $0.35 per share. GMLP’s profit will be $6.41 million for 50.81 P/E if the $0.09 EPS becomes a reality. After $0.37 actual EPS reported by Golar LNG Partners LP for the previous quarter, Wall Street now forecasts -75.68 % negative EPS growth.

Golar LNG Partners LP (NASDAQ:GMLP) Ratings Coverage

Among 6 analysts covering Golar LNG Partners (NASDAQ:GMLP), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. Golar LNG Partners had 20 analyst reports since August 19, 2015 according to SRatingsIntel. Jefferies initiated Golar LNG Partners LP (NASDAQ:GMLP) on Monday, December 18 with “Buy” rating. The stock has “Buy” rating by Stifel Nicolaus on Monday, December 18. The stock of Golar LNG Partners LP (NASDAQ:GMLP) has “Hold” rating given on Wednesday, August 19 by Zacks. The stock has “Hold” rating by Stifel Nicolaus on Tuesday, January 3. The stock of Golar LNG Partners LP (NASDAQ:GMLP) earned “Hold” rating by Stifel Nicolaus on Thursday, August 17. The company was maintained on Tuesday, February 27 by Seaport Global. The firm has “Buy” rating by Jefferies given on Monday, June 12. As per Tuesday, September 13, the company rating was initiated by Jefferies. On Monday, March 5 the stock rating was maintained by Bank of America with “Buy”. Jefferies maintained the stock with “Buy” rating in Monday, July 17 report.

More notable recent Golar LNG Partners LP (NASDAQ:GMLP) news were published by: Globenewswire.com which released: “Golar LNG Partners LP : Common Unit Repurchase Program” on March 05, 2018, also Seekingalpha.com with their article: “Golar LNG Partners From The Perspective Of A Preferred Investor” published on October 31, 2017, Globenewswire.com published: “Golar LNG Partners LP: Q3 2017 results presentation” on November 10, 2017. More interesting news about Golar LNG Partners LP (NASDAQ:GMLP) were released by: Seekingalpha.com and their article: “Golar LNG Partners LP: This 8.75% Preferred Stock Started Trading On The Nasdaq” published on November 01, 2017 as well as Globenewswire.com‘s news article titled: “Golar LNG Partners LP: Q4 2017 results presentation” with publication date: February 15, 2018.

Golar LNG Partners LP owns and operates floating storage regasification units , liquefied natural gas (LNG) carriers, and floating liquefied natural gas vessel industries under long-term charters in Brazil, the United Arab Emirates, Indonesia, Jordan, and Kuwait. The company has market cap of $1.30 billion. The firm also engages in the leasing of its fleets. It has a 9.91 P/E ratio. As of April 24, 2017, it had a fleet of six FSRUs and four LNG carriers.

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