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Flex LNG (FLNG) Gains But Lags Market: What You Should Know
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In the latest trading session, Flex LNG (FLNG - Free Report) closed at $30.07, marking a +1.01% move from the previous day. This change lagged the S&P 500's 2.28% gain on the day. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Coming into today, shares of the liquefied natural gas shipping company had lost 13.79% in the past month. In that same time, the Transportation sector lost 3.85%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from Flex LNG as it approaches its next earnings report date. On that day, Flex LNG is projected to report earnings of $0.67 per share, which would represent a year-over-year decline of 43.22%. Meanwhile, our latest consensus estimate is calling for revenue of $91.65 million, down 20.02% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Flex LNG. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Flex LNG is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Flex LNG is holding a Forward P/E ratio of 10.98. This valuation marks a premium compared to its industry's average Forward P/E of 4.79.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FLNG in the coming trading sessions, be sure to utilize Zacks.com.
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Flex LNG (FLNG) Gains But Lags Market: What You Should Know
In the latest trading session, Flex LNG (FLNG - Free Report) closed at $30.07, marking a +1.01% move from the previous day. This change lagged the S&P 500's 2.28% gain on the day. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Coming into today, shares of the liquefied natural gas shipping company had lost 13.79% in the past month. In that same time, the Transportation sector lost 3.85%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from Flex LNG as it approaches its next earnings report date. On that day, Flex LNG is projected to report earnings of $0.67 per share, which would represent a year-over-year decline of 43.22%. Meanwhile, our latest consensus estimate is calling for revenue of $91.65 million, down 20.02% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Flex LNG. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Flex LNG is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Flex LNG is holding a Forward P/E ratio of 10.98. This valuation marks a premium compared to its industry's average Forward P/E of 4.79.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FLNG in the coming trading sessions, be sure to utilize Zacks.com.