GasLog (NYSE:GLOG) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. The Company operates in two segments: vessel ownership and vessel management. The vessel ownership segment consists of chartering out company-owned LNG carriers and the vessel management segment consists of providing LNG carrier technical management services, LNG carrier construction supervision services and other vessel management services. GasLog Ltd. is based in Monaco. “
A number of other research firms also recently issued reports on GLOG. ValuEngine downgraded shares of GasLog from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 13th. DNB Markets downgraded shares of GasLog from a “buy” rating to a “hold” rating in a report on Monday, November 5th. Morgan Stanley downgraded shares of GasLog from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a report on Tuesday, January 22nd. Jefferies Financial Group set a $26.00 price objective on shares of GasLog and gave the stock a “buy” rating in a report on Thursday, November 1st. Finally, TheStreet upgraded shares of GasLog from a “c+” rating to a “b” rating in a report on Friday, November 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. GasLog presently has a consensus rating of “Hold” and a consensus price target of $21.78.
GasLog (NYSE:GLOG) last released its earnings results on Thursday, February 14th. The shipping company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.23. GasLog had a net margin of 7.71% and a return on equity of 2.67%. The company had revenue of $188.64 million for the quarter, compared to the consensus estimate of $176.16 million. During the same quarter in the previous year, the company earned ($0.02) EPS. GasLog’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts expect that GasLog will post 0.91 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new position in GasLog during the fourth quarter worth $31,000. Bessemer Group Inc. purchased a new stake in shares of GasLog in the fourth quarter valued at about $37,000. Nisa Investment Advisors LLC purchased a new stake in shares of GasLog in the fourth quarter valued at about $223,000. Strs Ohio purchased a new stake in shares of GasLog in the fourth quarter valued at about $276,000. Finally, Jane Street Group LLC purchased a new stake in shares of GasLog in the third quarter valued at about $333,000. Hedge funds and other institutional investors own 41.17% of the company’s stock.
GasLog Ltd. operates as an owner, operator, and manager of liquefied natural gas (LNG) carriers providing support to international energy companies. It provides maritime services for the transportation of LNG on a worldwide basis and vessel management services. As of February 28, 2018, its owned fleet consisted of 28 LNG carriers, including 23 ships on the water and 5 on order.
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