Dorian LPG Ltd. Plans Special Dividend of $1.00 (NYSE:LPG)

Key Points

• Dorian LPG declared a special dividend of $1.00 per share. Shareholders of record on July 27 will be paid on August 12, with the ex-dividend date also set for July 27.
• The company said its dividend is supported by earnings, noting a 36.2% payout ratio. This suggests the payment is relatively well covered.
• Recent results were strong, with quarterly EPS of $1.89 beating estimates and revenue of $153.27 million, up 102% year over year. Analysts currently have a consensus Moderate Buy rating and an average price target of $55.00.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) declared a special dividend on Thursday, July 16th. Investors of record on Monday, July 27th will be paid a dividend of 1.00 per share by the shipping company on Wednesday, August 12th. The ex-dividend date of this dividend is Monday, July 27th.

Dorian LPG has a payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings.

Dorian LPG Stock Down 2.0%

NYSE:LPG traded down $0.83 during mid-day trading on Thursday, hitting $41.20. The stock had a trading volume of 480,862 shares, compared to its average volume of 609,500. The stock has a 50-day simple moving average of $40.85 and a two-hundred day simple moving average of $35.38. The company has a market capitalization of $1.76 billion, a PE ratio of 9.05 and a beta of 0.66. Dorian LPG has a twelve month low of $23.76 and a twelve month high of $48.12. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40.

Dorian LPG (NYSE:LPG - Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.48. The company had revenue of $153.27 million during the quarter, compared to the consensus estimate of $128.87 million. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. Dorian LPG's revenue for the quarter was up 102.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LPG shares. Weiss Ratings upgraded Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. Dnb Carnegie upgraded Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Wall Street Zen lowered Dorian LPG from a "strong-buy" rating to a "buy" rating in a report on Sunday. Jefferies Financial Group raised their price target on Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Finally, Pareto Securities reaffirmed a "buy" rating on shares of Dorian LPG in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG's fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.

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