FLEX LNG: LNG Shipping Idea For Income-Minded Investors; Rating Unchanged [Seeking Alpha]
FLEX LNG Ltd. Ordinary Shares (FLNG)
Company Research
Source: Seeking Alpha
Play 11min Summary FLEX LNG owns 13 LNG carriers with an average age of 4.8 years. Nine of the ships have MEGA/MEGI engines, while the other four have X-DF engines. Despite a 33% QoQ net income decline in 2Q24 due to seasonality and higher operating expenses, FLNG maintains a strong balance sheet and attractive dividends. For 2Q24, the company declared a $0.75/share quarterly dividend. At the present stock price, the LTM yield is 11.90%. FLNG's stock trades at 112% PNAV, higher than peers CLCO and CCEC, yet remains a buy due to its superior fleet and robust financials. SHansche Note: I previously covered FLEX LNG ( NYSE: FLNG ) in April. In the article, I wrote about FLNG's strengths: its high-spec fleet, attractive dividends, and healthy balance sheet. The company offered a good balance between fleet qualities, LTV, yields, and valuation. In April, FLNG traded at 103% PNAV. I gave FLNG a buy rating. In today's article, I review the 2Q24 earnings report and the comp
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FLNG
News
- FLEX LNG: When A New Fleet And Appealing Yields Are Not Enough, Rating Downgrade Nov. 22, 2024 1:08 AM ET [Seeking Alpha]Seeking Alpha
- Flex LNG Ltd (FLNG) Q3 2024 Earnings Call Highlights: Strong Cash Position and Dividend Amid ... [Yahoo! Finance]Yahoo! Finance
- FLEX LNG Ltd. (NYSE: FLNG) had its "hold" rating re-affirmed by analysts at Jefferies Financial Group Inc.. They now have a $24.00 price target on the stock.MarketBeat
- Flex LNG - Third Quarter 2024 Earnings Release [Yahoo! Finance]Yahoo! Finance
- Flex LNG - Third Quarter 2024 Earnings ReleasePR Newswire
FLNG
Earnings
- 11/12/24 - Miss
FLNG
Sec Filings
- 11/12/24 - Form 6-K
- 11/12/24 - Form 6-K
- 10/2/24 - Form F-3ASR
- FLNG's page on the SEC website