Dorian LPG (NYSE:LPG) Releases Quarterly Earnings Results, Misses Expectations By $0.34 EPS

Key Points

• Dorian LPG reported a quarterly earnings per share (EPS) of $0.27, falling short of expectations by $0.34, with total revenue of $84.21 million, down 26.3% year-over-year.
• The company's stock dropped 5.9% following the earnings announcement, with shares opening at $27.08 and a market cap of $1.15 billion.
• Dorian LPG declared a quarterly dividend of $0.60, equating to an annualized dividend of $2.40 and a yield of 8.9% for investors of record.

Dorian LPG (NYSE:LPG - Get Free Report) posted its quarterly earnings results on Friday. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.34), RTT News reports. Dorian LPG had a net margin of 25.52% and a return on equity of 8.88%. The business had revenue of $84.21 million during the quarter, compared to the consensus estimate of $86.53 million. During the same period last year, the firm earned $1.26 EPS. The business's revenue for the quarter was down 26.3% on a year-over-year basis.

Dorian LPG Stock Down 5.9%

Shares of Dorian LPG stock opened at $27.08 on Friday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 23.55 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.54 and a quick ratio of 3.52. Dorian LPG has a 1 year low of $16.66 and a 1 year high of $39.35. The company has a 50-day moving average of $25.63 and a 200 day moving average of $23.29.

Dorian LPG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 8.9%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wall Street Zen raised shares of Dorian LPG from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st.

Institutional Trading of Dorian LPG

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Dorian LPG by 50.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company's stock valued at $3,977,000 after acquiring an additional 59,311 shares during the last quarter. Jane Street Group LLC lifted its holdings in Dorian LPG by 130.6% during the first quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company's stock valued at $2,990,000 after purchasing an additional 75,818 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Dorian LPG by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company's stock valued at $483,000 after buying an additional 914 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Dorian LPG by 1,003.8% in the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock worth $32,000 after purchasing an additional 1,315 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

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.

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