Dorian LPG Ltd. (NYSE:LPG) to Issue Quarterly Dividend of $0.60

Key Points

• Dorian LPG Ltd. has declared a quarterly dividend of $0.60 per share, payable to shareholders on August 27, 2023.
• The company reported earnings of $0.27 per share for the last quarter, missing estimates significantly and showing a 26.3% decline in revenue year-over-year.
• Dorian LPG's stock opened at $28.76, with a market capitalization of $1.23 billion and a notable debt-to-equity ratio of 0.48.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Tuesday, August 12th will be paid a dividend of 0.60 per share by the shipping company on Wednesday, August 27th. This represents a c) annualized dividend and a yield of 7.8%.

Dorian LPG Price Performance

NYSE:LPG traded up $1.95 during midday trading on Tuesday, hitting $30.78. 984,312 shares of the stock were exchanged, compared to its average volume of 748,317. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 26.77 and a beta of 0.77. Dorian LPG has a one year low of $16.66 and a one year high of $39.35. The business has a 50-day moving average price of $25.78 and a two-hundred day moving average price of $23.30. The company has a current ratio of 3.54, a quick ratio of 3.52 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.34). Dorian LPG had a return on equity of 5.20% and a net margin of 15.15%. The firm had revenue of $84.21 million for the quarter, compared to analysts' expectations of $86.53 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company's revenue for the quarter was down 26.3% on a year-over-year basis. Sell-side analysts predict that Dorian LPG will post 2.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LPG shares. Wall Street Zen upgraded shares of Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Jefferies Financial Group upped their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, July 11th.

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.