Dorian LPG (NYSE:LPG) Posts Earnings Results

Key Points

• Dorian LPG beat quarterly estimates: EPS was $3.46 versus a $2.85 consensus, while revenue reached $221.35 million against expectations of $194.90 million. Revenue rose 78.4% year over year.
• The company announced a $1.25 special dividend, payable November 24 to shareholders of record November 9.
• Shares fell 6.7% to $46.14 after the results. Analysts’ consensus rating was “Buy,” with an average price target of $55.

Dorian LPG (NYSE:LPG - Get Free Report) announced its earnings results on Wednesday. The shipping company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.61, FiscalAI reports. The firm had revenue of $221.35 million during the quarter, compared to analyst estimates of $194.90 million. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%. The business's revenue was up 78.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 EPS.

Dorian LPG Trading Down 6.7%

Shares of NYSE:LPG traded down $3.29 on Thursday, hitting $46.14. 777,193 shares of the company's stock were exchanged, compared to its average volume of 598,150. Dorian LPG has a 12 month low of $23.76 and a 12 month high of $59.97. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 6.11 and a beta of 0.64. The business's 50 day simple moving average is $54.26 and its two-hundred day simple moving average is $42.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 3.24.

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, November 9th will be paid a $1.25 dividend. The ex-dividend date is Monday, November 9th. Dorian LPG's dividend payout ratio (DPR) is presently 13.25%.

Insider Activity

In related news, CFO Theodore B. Young sold 11,919 shares of Dorian LPG stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.50, for a total transaction of $649,585.50. Following the completion of the sale, the chief financial officer owned 107,794 shares in the company, valued at $5,874,773. This trade represents a 9.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Alexander C. Hadjipateras sold 5,000 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.13, for a total transaction of $270,650.00. Following the completion of the sale, the chief operating officer directly owned 95,836 shares of the company's stock, valued at approximately $5,187,602.68. This trade represents a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 106,000 shares of company stock valued at $5,455,849. 13.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Freedom Capital raised shares of Dorian LPG from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 24th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Dorian LPG in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Dorian LPG has a consensus rating of "Buy" and an average target price of $55.00.

About Dorian LPG

Dorian LPG Ltd. NYSE: LPG is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG's fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.