FLEX LNG Ltd. (FLNG) To Go Ex-Dividend on February 20th

FLEX LNG Ltd. (NYSE:FLNG) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders of record on Thursday, February 20th will be given a dividend of 0.75 per share on Monday, March 10th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.56%. The ex-dividend date of this dividend is Thursday, February 20th.

FLEX LNG has increased its dividend payment by an average of 17.5% per year over the last three years. FLEX LNG has a payout ratio of 120.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect FLEX LNG to earn $1.86 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 161.3%.

FLEX LNG Trading Down 0.3 %

NYSE:FLNG traded down $0.07 during mid-day trading on Wednesday, reaching $25.96. 478,155 shares of the company’s stock traded hands, compared to its average volume of 439,255. The company has a 50 day moving average price of $23.82 and a 200-day moving average price of $25.14. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.27 and a beta of 0.70. 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 12-month low of $20.85 and a 12-month high of $30.48.

FLEX LNG (NYSE:FLNG) last posted its earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 25.33% and a return on equity of 16.27%. During the same period in the previous year, the business posted $0.70 earnings per share. On average, sell-side analysts predict that FLEX LNG will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “hold” rating and issued a $23.00 price target on shares of FLEX LNG in a research note on Tuesday.

About FLEX LNG

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.