BW LPG (NYSE:BWLP) Issues Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• BW LPG reported earnings of $0.23 per share for the quarter, falling short of the expected $0.26, with a total revenue of $153 million against estimates of $170 million.
• The company has a net margin of 7.63% and a return on equity of 14.58%, indicating a stable financial performance despite the earnings miss.
• Institutional investors, including JPMorgan Chase & Co., have been actively modifying their holdings, with several new stakes acquired during the second quarter.

BW LPG (NYSE:BWLP - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.03), Zacks reports. The company had revenue of $153.00 million during the quarter, compared to analyst estimates of $170.09 million. BW LPG had a net margin of 6.09% and a return on equity of 11.70%.

BW LPG Price Performance

BW LPG stock traded up $0.09 on Friday, reaching $15.58. The company's stock had a trading volume of 422,821 shares, compared to its average volume of 382,138. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.27. The company has a market cap of $2.05 billion and a price-to-earnings ratio of 10.12. The business's fifty day moving average price is $13.73 and its 200 day moving average price is $11.85. BW LPG has a twelve month low of $7.86 and a twelve month high of $16.60.

BW LPG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a yield of 5.6%. BW LPG's payout ratio is currently 72.73%.

Hedge Funds Weigh In On BW LPG

A number of institutional investors and hedge funds have recently bought and sold shares of BWLP. Ameriprise Financial Inc. raised its position in shares of BW LPG by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,257,314 shares of the company's stock worth $26,704,000 after acquiring an additional 579,987 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BW LPG by 8.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,395,760 shares of the company's stock worth $16,413,000 after acquiring an additional 113,275 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of BW LPG by 41.4% during the second quarter. The Manufacturers Life Insurance Company now owns 560,231 shares of the company's stock worth $6,613,000 after acquiring an additional 164,057 shares during the last quarter. Jane Street Group LLC raised its position in shares of BW LPG by 14.0% during the first quarter. Jane Street Group LLC now owns 51,463 shares of the company's stock worth $558,000 after acquiring an additional 6,331 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of BW LPG by 39,695.9% during the second quarter. Tower Research Capital LLC TRC now owns 38,602 shares of the company's stock worth $457,000 after acquiring an additional 38,505 shares during the last quarter.

BW LPG Company Profile

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.