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Flex LNG (FLNG) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, Flex LNG (FLNG - Free Report) closed at $30.15, marking a -1.76% move from the previous day. This move lagged the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 10.36%.

Coming into today, shares of the liquefied natural gas shipping company had lost 11.38% in the past month. In that same time, the Transportation sector lost 6.56%, while the S&P 500 lost 5.98%.

Investors will be hoping for strength from Flex LNG as it approaches its next earnings release. The company is expected to report EPS of $0.67, down 43.22% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $91.65 million, down 20.02% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Flex LNG. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Flex LNG is currently sporting a Zacks Rank of #4 (Sell).

Digging into valuation, Flex LNG currently has a Forward P/E ratio of 11.32. This valuation marks a premium compared to its industry's average Forward P/E of 5.08.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

To follow FLNG in the coming trading sessions, be sure to utilize Zacks.com.


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