Zacks: Brokerages Anticipate Dorian LPG Ltd (NYSE:LPG) to Announce $0.36 Earnings Per Share

Equities analysts predict that Dorian LPG Ltd (NYSE:LPG) will announce earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Dorian LPG’s earnings. Dorian LPG reported earnings of ($0.17) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 311.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 30th.

According to Zacks, analysts expect that Dorian LPG will report full year earnings of $1.49 per share for the current year. For the next year, analysts expect that the firm will report earnings of $1.93 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Dorian LPG.

Dorian LPG (NYSE:LPG) last posted its earnings results on Wednesday, August 7th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $61.17 million during the quarter, compared to analysts’ expectations of $56.10 million. Dorian LPG had a negative return on equity of 0.94% and a negative net margin of 12.67%.



Several equities research analysts have issued reports on the company. Wells Fargo & Co raised Dorian LPG from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $8.00 to $15.00 in a research note on Thursday, July 25th. TheStreet raised Dorian LPG from a “d+” rating to a “c” rating in a research note on Monday, August 26th. DNB Markets cut Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Zacks Investment Research raised Dorian LPG from a “strong sell” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, July 30th. Finally, ValuEngine cut Dorian LPG from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $13.00.

In other news, major shareholder Group Ltd Bw sold 422,517 shares of Dorian LPG stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $8.83, for a total value of $3,730,825.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theodore B. Young sold 4,500 shares of Dorian LPG stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $9.36, for a total value of $42,120.00. Following the completion of the sale, the chief financial officer now directly owns 122,253 shares of the company’s stock, valued at $1,144,288.08. The disclosure for this sale can be found here. Insiders sold 1,884,028 shares of company stock valued at $18,056,194 over the last ninety days. Insiders own 26.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Dorian LPG by 3.3% in the first quarter. Rhumbline Advisers now owns 40,409 shares of the shipping company’s stock valued at $259,000 after buying an additional 1,300 shares in the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in shares of Dorian LPG in the second quarter valued at $27,000. BNP Paribas Arbitrage SA grew its stake in Dorian LPG by 97.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,103 shares of the shipping company’s stock worth $39,000 after purchasing an additional 3,007 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Dorian LPG by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 124,674 shares of the shipping company’s stock worth $1,124,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Dorian LPG by 56.1% during the 4th quarter. Bank of America Corp DE now owns 19,717 shares of the shipping company’s stock worth $115,000 after purchasing an additional 7,082 shares in the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

LPG stock traded up $0.11 during midday trading on Tuesday, hitting $10.59. 223,930 shares of the company’s stock were exchanged, compared to its average volume of 378,017. The business has a 50-day simple moving average of $9.68 and a two-hundred day simple moving average of $8.17. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $577.07 million, a PE ratio of -13.41 and a beta of 1.13. Dorian LPG has a 1-year low of $5.26 and a 1-year high of $11.16.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

See Also: Why are trading ranges significant?

Get a free copy of the Zacks research report on Dorian LPG (LPG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Dorian LPG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorian LPG and related companies with MarketBeat.com's FREE daily email newsletter.