$34.09 Million in Sales Expected for Hoegh LNG Partners LP (NYSE:HMLP) This Quarter

Wall Street brokerages predict that Hoegh LNG Partners LP (NYSE:HMLP) will post $34.09 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Hoegh LNG Partners’ earnings. The lowest sales estimate is $34.00 million and the highest is $34.18 million. Hoegh LNG Partners reported sales of $36.61 million during the same quarter last year, which indicates a negative year over year growth rate of 6.9%. The business is expected to issue its next quarterly earnings report on Thursday, August 22nd.

On average, analysts expect that Hoegh LNG Partners will report full year sales of $144.36 million for the current year, with estimates ranging from $143.73 million to $145.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $154.40 million, with estimates ranging from $149.00 million to $159.79 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Hoegh LNG Partners.

Hoegh LNG Partners (NYSE:HMLP) last released its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $36.14 million during the quarter, compared to the consensus estimate of $37.14 million. Hoegh LNG Partners had a return on equity of 19.69% and a net margin of 47.40%. Hoegh LNG Partners’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share.

HMLP has been the subject of several recent research reports. TheStreet raised Hoegh LNG Partners from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Zacks Investment Research downgraded Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Finally, Nordea Equity Research downgraded Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.80.

Hoegh LNG Partners stock opened at $16.99 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average is $17.94. The stock has a market capitalization of $560.71 million, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 9.30 and a beta of 1.02. Hoegh LNG Partners has a fifty-two week low of $14.50 and a fifty-two week high of $19.98.

Large investors have recently made changes to their positions in the company. Barclays PLC grew its position in shares of Hoegh LNG Partners by 4,784.8% in the fourth quarter. Barclays PLC now owns 3,859 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 3,780 shares during the period. Trustcore Financial Services LLC grew its position in shares of Hoegh LNG Partners by 52.5% in the first quarter. Trustcore Financial Services LLC now owns 6,100 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 2,100 shares during the period. Osborn Williams & Donohoe LLC purchased a new stake in shares of Hoegh LNG Partners in the first quarter valued at $163,000. Virtu Financial LLC purchased a new stake in shares of Hoegh LNG Partners in the first quarter valued at $219,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Hoegh LNG Partners in the fourth quarter valued at $226,000. 23.74% of the stock is owned by institutional investors and hedge funds.

Hoegh LNG Partners Company Profile

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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