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Flex LNG (FLNG) Gains As Market Dips: What You Should Know
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In the latest trading session, Flex LNG (FLNG - Free Report) closed at $30.75, marking a +0.29% move from the previous day. This move outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 9.78%.
Heading into today, shares of the liquefied natural gas shipping company had gained 0.79% over the past month, lagging the Transportation sector's gain of 10.25% and the S&P 500's gain of 4.16% in that time.
Flex LNG will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.75, up 22.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $92.3 million, up 9.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.95 per share and revenue of $371.14 million. These totals would mark changes of +4.61% and +6.67%, respectively, from last year.
Any recent changes to analyst estimates for Flex LNG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Flex LNG is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Flex LNG is currently trading at a Forward P/E ratio of 10.39. This valuation marks a premium compared to its industry's average Forward P/E of 5.97.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 217, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Flex LNG (FLNG) Gains As Market Dips: What You Should Know
In the latest trading session, Flex LNG (FLNG - Free Report) closed at $30.75, marking a +0.29% move from the previous day. This move outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 9.78%.
Heading into today, shares of the liquefied natural gas shipping company had gained 0.79% over the past month, lagging the Transportation sector's gain of 10.25% and the S&P 500's gain of 4.16% in that time.
Flex LNG will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.75, up 22.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $92.3 million, up 9.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.95 per share and revenue of $371.14 million. These totals would mark changes of +4.61% and +6.67%, respectively, from last year.
Any recent changes to analyst estimates for Flex LNG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Flex LNG is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Flex LNG is currently trading at a Forward P/E ratio of 10.39. This valuation marks a premium compared to its industry's average Forward P/E of 5.97.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 217, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.