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) released its earnings results on Friday. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.34), RTT News reports. Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. The business had revenue of $84.21 million during the quarter, compared to analysts' expectations of $86.53 million. During the same quarter in the previous year, the company earned $1.26 EPS. Dorian LPG's revenue for the quarter was down 26.3% on a year-over-year basis.

Dorian LPG Stock Down 0.6%

NYSE:LPG traded down $0.18 during mid-day trading on Thursday, reaching $30.41. The stock had a trading volume of 142,822 shares, compared to its average volume of 746,040. The stock has a market cap of $1.30 billion, a P/E ratio of 26.44 and a beta of 0.77. The business's 50 day moving average is $25.95 and its 200 day moving average is $23.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.32 and a quick ratio of 3.52. Dorian LPG has a fifty-two week low of $16.66 and a fifty-two week high of $39.35.

Dorian LPG Dividend Announcement

The company 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 7.9%.

Institutional Trading of Dorian LPG

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded 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 company a "buy" rating in a research note on Friday, July 11th.

Dorian LPG Company Profile

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.