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

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

Dorian LPG Stock Down 8.1%

Shares of LPG traded down $2.40 during mid-day trading on Thursday, reaching $27.17. The company had a trading volume of 1,002,570 shares, compared to its average volume of 674,857. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32. The firm has a 50-day moving average price of $29.60 and a 200 day moving average price of $27.03. Dorian LPG has a 52 week low of $16.66 and a 52 week high of $32.79. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 23.63 and a beta of 0.76.

Insider Activity at Dorian LPG

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $32.38, for a total value of $161,900.00. Following the sale, the chief operating officer directly owned 89,440 shares of the company’s stock, valued at $2,896,067.20. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 13.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Dorian LPG

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LPG. Weiss Ratings restated a “hold (c)” rating on shares of Dorian LPG in a report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on Dorian LPG from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, Zacks Research downgraded Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock 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.