Dorian LPG (NYSE:LPG) Announces Earnings Results

Dorian LPG (NYSE:LPG) issued its earnings results on Wednesday. The shipping company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.61, FiscalAI reports. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%. The business had revenue of $221.35 million during the quarter, compared to analyst estimates of $194.90 million. During the same period in the previous year, the company posted $1.31 EPS. Dorian LPG’s revenue was up 78.4% on a year-over-year basis.

Dorian LPG Stock Down 6.7%

Shares of NYSE LPG traded down $3.29 during mid-day trading on Thursday, reaching $46.14. 777,193 shares of the company were exchanged, compared to its average volume of 598,150. Dorian LPG has a 1 year low of $23.76 and a 1 year high of $59.97. The firm has a 50-day moving average of $54.26 and a 200 day moving average of $42.26. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 6.11 and a beta of 0.64. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28.

Dorian LPG Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, November 9th. Dorian LPG’s payout ratio is presently 13.25%.

Analysts Set New Price Targets

LPG has been the topic of a number of recent research reports. Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Freedom Capital upgraded Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Dorian LPG currently has a consensus rating of “Buy” and a consensus price target of $55.00.

Insiders Place Their Bets

In other Dorian LPG news, CFO Theodore Young sold 11,919 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.50, for a total transaction of $649,585.50. Following the completion of the sale, the chief financial officer directly owned 107,794 shares of the company’s stock, valued at approximately $5,874,773. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Alexander Hadjipateras sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.13, for a total transaction of $270,650.00. Following the completion of the sale, the chief operating officer owned 95,836 shares in the company, valued at $5,187,602.68. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 106,000 shares of company stock worth $5,455,849. 13.50% of the stock is owned by corporate insiders.

Dorian LPG Company Profile

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.