StealthGas (NASDAQ:GASS) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Key Points

• StealthGas reported quarterly EPS of $0.43, falling $0.10 short of the $0.53 analyst consensus. The company posted a 35.91% net margin and 8.72% return on equity.
• Shares declined 4.0% to $9.23 following the earnings release, with the stock carrying a market capitalization of approximately $347 million and a price-to-earnings ratio of 5.52.
• Institutional investors own 66.32% of StealthGas, while several funds increased their positions. Despite Wall Street Zen’s downgrade to “hold,” the broader analyst consensus remains “Buy.”

StealthGas (NASDAQ:GASS - Get Free Report) issued its quarterly earnings data on Wednesday. The shipping company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.10), Zacks reports. StealthGas had a net margin of 35.91% and a return on equity of 8.72%.

StealthGas Trading Down 4.0%

Shares of StealthGas stock traded down $0.38 during trading hours on Wednesday, reaching $9.23. The stock had a trading volume of 49,868 shares, compared to its average volume of 141,151. The stock's 50 day moving average is $8.85 and its 200 day moving average is $9.14. The firm has a market capitalization of $347.32 million, a PE ratio of 5.52 and a beta of 0.25. StealthGas has a twelve month low of $6.12 and a twelve month high of $10.55.

Hedge Funds Weigh In On StealthGas

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its position in StealthGas by 701.2% during the fourth quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company's stock worth $58,000 after purchasing an additional 8,982 shares in the last quarter. Jump Financial LLC raised its stake in shares of StealthGas by 249.2% during the 2nd quarter. Jump Financial LLC now owns 38,651 shares of the shipping company's stock worth $248,000 after buying an additional 27,583 shares during the period. Jane Street Group LLC acquired a new position in shares of StealthGas during the 2nd quarter worth approximately $91,000. WINTON GROUP Ltd purchased a new position in shares of StealthGas during the 3rd quarter valued at approximately $276,000. Finally, UBS Group AG grew its stake in StealthGas by 21.4% in the 3rd quarter. UBS Group AG now owns 260,133 shares of the shipping company's stock valued at $1,704,000 after acquiring an additional 45,846 shares during the period. Hedge funds and other institutional investors own 66.32% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded StealthGas from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, StealthGas has a consensus rating of "Buy".

StealthGas Company Profile

StealthGas Inc is an international shipping company specializing in the seaborne transportation of liquefied petroleum gases (LPG), including propane, butane and ammonia. The company operates a fleet of modern pressurized LPG carriers with capacities ranging from approximately 2,500 to 9,100 cubic meters, providing safe and efficient carriage of petrochemical gases worldwide.

Founded in 2005 and incorporated in the Republic of the Marshall Islands, StealthGas is headquartered in Athens, Greece, with additional commercial and operational offices in major shipping centers across Europe and Asia.

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