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

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

FLEX LNG Trading Down 2.1 %

FLEX LNG stock opened at $25.48 on Wednesday. FLEX LNG has a 52 week low of $20.85 and a 52 week high of $30.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 14.92 and a beta of 0.70. The company has a 50 day moving average price of $23.82 and a 200 day moving average price of $25.14.

FLEX LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 27th were given a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $3.00 annualized dividend and a dividend yield of 11.77%. FLEX LNG’s dividend payout ratio (DPR) is presently 176.47%.

Analyst Ratings Changes

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

FLEX LNG Company Profile

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.