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

Dorian LPG (NYSE:LPG) issued its earnings results on Thursday. The shipping company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.09), Zacks reports. The business 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%.Dorian LPG’s revenue for the quarter was up 50.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS.

Dorian LPG Stock Performance

Dorian LPG stock traded up $0.20 during trading on Friday, reaching $27.37. The company had a trading volume of 188,578 shares, compared to its average volume of 672,510. Dorian LPG has a 52 week low of $16.66 and a 52 week high of $32.79. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 23.78 and a beta of 0.76. The firm’s 50-day simple moving average is $29.51 and its 200 day simple moving average is $27.03. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.47.

Dorian LPG Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, November 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 9.5%. This is an increase from Dorian LPG’s previous quarterly dividend of $0.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LPG shares. Weiss Ratings reissued 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 lowered Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Insiders Place Their Bets

In related news, COO Alexander C. Hadjipateras sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $32.38, for a total transaction of $161,900.00. Following the completion of the transaction, the chief operating officer directly owned 89,440 shares of the company’s stock, valued at approximately $2,896,067.20. This represents 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. Insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Dorian LPG by 236.7% during the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company’s stock valued at $10,373,000 after purchasing an additional 299,107 shares in the last quarter. Bank of America Corp DE grew its position in shares of Dorian LPG by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 368,986 shares of the shipping company’s stock worth $8,996,000 after buying an additional 212,787 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Dorian LPG during the second quarter worth $2,999,000. Ieq Capital LLC acquired a new position in Dorian LPG during the 2nd quarter valued at approximately $2,116,000. Finally, Jane Street Group LLC boosted its position in Dorian LPG by 130.6% in the first quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock valued at $2,990,000 after buying an additional 75,818 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.