Golar LNG Partners LP (GMLP) Surges to 52-Week Low, Is Now Worst Performer

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 earnings per share, down 74.29 % or $0.26 from last year’s $0.35 per share. GMLP’s profit will be $6.41M for 50.81 P/E if the $0.09 EPS becomes a reality. After $0.37 actual earnings per share 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. The rating was maintained by Stifel Nicolaus on Thursday, August 17 with “Hold”. Jefferies maintained the shares of GMLP in report on Monday, August 21 with “Buy” rating. On Monday, December 18 the stock rating was initiated by Jefferies with “Buy”. Danske Bank initiated the shares of GMLP in report on Tuesday, September 22 with “Buy” rating. The firm has “Hold” rating given on Tuesday, January 3 by Stifel Nicolaus. The firm has “Buy” rating by Jefferies given on Tuesday, September 13. The firm earned “Hold” rating on Wednesday, August 19 by Zacks. The firm earned “Buy” rating on Monday, September 25 by Jefferies. The rating was maintained by Jefferies on Monday, July 17 with “Buy”. The company was maintained on Monday, June 12 by Jefferies.

More notable recent Golar LNG Partners LP (NASDAQ:GMLP) news were published by: Seekingalpha.com which released: “Golar LNG Partners LP: This 8.75% Preferred Stock Started Trading On The Nasdaq” on November 01, 2017, also Seekingalpha.com with their article: “Golar LNG Partners’ (GMLP) CEO Graham Robjohns on Q3 2017 Results – Earnings …” published on November 30, 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: Globenewswire.com and their article: “Golar LNG Partners LP preliminary fourth quarter and financial year 2017 results” published on February 28, 2018 as well as Seekingalpha.com‘s news article titled: “Golar LNG Partners From The Perspective Of A Preferred Investor” with publication date: October 31, 2017.

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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