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

FLEX LNG (NYSE:FLNG) announced its quarterly earnings results on Tuesday. The company reported $0.57 earnings per share for the quarter, beating 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%.

FLEX LNG Price Performance

Shares of FLNG opened at $25.74 on Tuesday. 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 has a 1-year low of $20.85 and a 1-year high of $30.48. The stock has a market cap of $1.39 billion, a PE ratio of 15.14 and a beta of 0.70. The firm has a fifty day moving average price of $23.81 and a 200 day moving average price of $25.15.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 27th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 11.66%. The ex-dividend date of this dividend was Wednesday, November 27th. FLEX LNG’s payout ratio is 176.47%.

Analyst Upgrades and Downgrades

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