Navigator (NYSE:NVGS) Posts Earnings Results, Hits Estimates

Navigator (NYSE:NVGS) issued its earnings results on Tuesday. The shipping company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36, Zacks reports. The business had revenue of $153.09 million for the quarter, compared to analyst estimates of $133.84 million. Navigator had a net margin of 15.57% and a return on equity of 6.56%.

Navigator Trading Up 3.6%

NVGS stock traded up $0.61 during trading on Thursday, hitting $17.54. The company had a trading volume of 364,643 shares, compared to its average volume of 353,293. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 13.78 and a beta of 0.57. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $15.89 and a 200-day moving average price of $15.11. Navigator has a 12 month low of $10.55 and a 12 month high of $17.66.

Navigator Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Tuesday, November 25th will be given a $0.07 dividend. This is a boost from Navigator’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, November 25th. This represents a $0.28 annualized dividend and a yield of 1.6%. Navigator’s dividend payout ratio is presently 13.25%.

Wall Street Analysts Forecast Growth

NVGS has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $19.00 price objective on shares of Navigator in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Navigator in a research note on Thursday, September 25th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, Weiss Ratings lowered Navigator from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Institutional Trading of Navigator

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVGS. Geode Capital Management LLC acquired a new position in Navigator during the 2nd quarter valued at about $5,677,000. Ameriprise Financial Inc. acquired a new position in shares of Navigator in the 2nd quarter valued at $4,773,000. Bank of America Corp DE grew its stake in shares of Navigator by 143.8% during the second quarter. Bank of America Corp DE now owns 263,369 shares of the shipping company’s stock worth $3,727,000 after purchasing an additional 155,336 shares during the period. Millennium Management LLC increased its holdings in Navigator by 16.4% in the first quarter. Millennium Management LLC now owns 542,756 shares of the shipping company’s stock valued at $7,224,000 after purchasing an additional 76,287 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Navigator by 674.7% in the first quarter. Jane Street Group LLC now owns 85,843 shares of the shipping company’s stock valued at $1,143,000 after buying an additional 74,762 shares during the period. 18.95% of the stock is currently owned by institutional investors and hedge funds.

About Navigator

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.