Dorian LPG (NYSE:LPG) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Dorian LPG (NYSE:LPG) released its earnings results on Thursday. The shipping company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.09), Zacks reports. Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The company had revenue of $124.06 million during the quarter, compared to analyst estimates of $126.99 million. During the same period in the prior year, the business posted $0.35 earnings per share. Dorian LPG’s revenue was up 50.6% on a year-over-year basis.

Dorian LPG Stock Down 8.1%

Shares of NYSE:LPG traded down $2.40 during midday trading on Thursday, reaching $27.17. The company had a trading volume of 1,002,607 shares, compared to its average volume of 674,857. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.32 and a quick ratio of 3.30. The stock’s fifty day moving average price is $29.60 and its 200-day moving average price is $27.03. The stock has a market capitalization of $1.16 billion, a P/E ratio of 23.63 and a beta of 0.76. Dorian LPG has a one year low of $16.66 and a one year high of $32.79.

Insider Activity

In related news, COO Alexander C. Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $32.38, for a total value of $161,900.00. Following the completion of the sale, the chief operating officer owned 89,440 shares in the company, valued at approximately $2,896,067.20. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.60% of the company’s stock.

Institutional Trading of Dorian LPG

A number of hedge funds and other institutional investors have recently made changes to their positions in LPG. Osaic Holdings Inc. increased its stake in Dorian LPG by 8.5% during the second quarter. Osaic Holdings Inc. now owns 34,424 shares of the shipping company’s stock valued at $838,000 after purchasing an additional 2,692 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Dorian LPG by 2.8% during the second quarter. Public Sector Pension Investment Board now owns 159,864 shares of the shipping company’s stock valued at $3,897,000 after purchasing an additional 4,377 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Dorian LPG by 138.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,494 shares of the shipping company’s stock valued at $85,000 after purchasing an additional 2,031 shares during the last quarter. IHT Wealth Management LLC bought a new stake in Dorian LPG during the second quarter valued at $417,000. Finally, BNP Paribas Financial Markets increased its stake in Dorian LPG by 328.6% during the second quarter. BNP Paribas Financial Markets now owns 10,406 shares of the shipping company’s stock valued at $254,000 after purchasing an additional 7,978 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dorian LPG in a research report on Wednesday, October 8th. Finally, Zacks Research cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.