StealthGas (NASDAQ:GASS) Issues Earnings Results, Beats Estimates By $0.05 EPS

StealthGas (NASDAQ:GASS) released its quarterly earnings results on Tuesday. The shipping company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05, RTT News reports. The business had revenue of $44.53 million during the quarter, compared to analysts’ expectations of $39.20 million. StealthGas had a return on equity of 9.68% and a net margin of 35.16%.During the same quarter last year, the business posted $0.33 EPS.

StealthGas Trading Up 1.2%

GASS stock opened at $6.77 on Thursday. StealthGas has a twelve month low of $4.82 and a twelve month high of $8.18. The stock has a market capitalization of $251.58 million, a price-to-earnings ratio of 4.10 and a beta of 0.20. The company has a quick ratio of 3.73, a current ratio of 3.87 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $6.65 and its two-hundred day simple moving average is $6.63.

Hedge Funds Weigh In On StealthGas

Several hedge funds have recently added to or reduced their stakes in GASS. NewEdge Advisors LLC bought a new stake in StealthGas in the third quarter worth about $226,000. Qube Research & Technologies Ltd raised its holdings in shares of StealthGas by 15.2% in the third quarter. Qube Research & Technologies Ltd now owns 122,155 shares of the shipping company’s stock worth $800,000 after buying an additional 16,129 shares during the period. Millennium Management LLC lifted its stake in shares of StealthGas by 24.5% during the 3rd quarter. Millennium Management LLC now owns 208,190 shares of the shipping company’s stock worth $1,364,000 after acquiring an additional 40,912 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of StealthGas by 48.4% during the 3rd quarter. Citadel Advisors LLC now owns 115,206 shares of the shipping company’s stock worth $755,000 after acquiring an additional 37,550 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in StealthGas by 31.3% during the 3rd quarter. Two Sigma Investments LP now owns 237,238 shares of the shipping company’s stock valued at $1,554,000 after acquiring an additional 56,493 shares during the period. 66.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GASS. Wall Street Zen raised shares of StealthGas from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of StealthGas in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, StealthGas currently has a consensus rating of “Buy”.

About StealthGas

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel; and edible oils and chemicals.