Navigator (NYSE:NVGS) Shares Gap Down After Earnings Miss

Key Points

• Navigator Holdings Ltd. shares gapped down to $15.25 following an earnings report that fell short of expectations, with earnings per share at $0.14 compared to an anticipated $0.36.
• The company declared a quarterly dividend of $0.05 per share, resulting in an annualized dividend of $0.20 and a yield of 1.3%.
• Analysts have lowered Navigator's rating from "buy" to "hold", with a consensus target price of $21.50 based on current market assessments.

Navigator Holdings Ltd. (NYSE:NVGS - Get Free Report)'s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $15.99, but opened at $15.25. Navigator shares last traded at $15.77, with a volume of 123,075 shares changing hands.

The shipping company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.22). The business had revenue of $129.64 million during the quarter, compared to analysts' expectations of $126.73 million. Navigator had a return on equity of 7.83% and a net margin of 15.42%.

Navigator Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. Navigator's dividend payout ratio is presently 15.63%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Navigator from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Navigator has an average rating of "Moderate Buy" and a consensus target price of $21.50.

Hedge Funds Weigh In On Navigator

A number of institutional investors and hedge funds have recently made changes to their positions in NVGS. Legal & General Group Plc purchased a new position in shares of Navigator during the 2nd quarter worth about $42,000. Ameritas Investment Partners Inc. purchased a new position in shares of Navigator during the 2nd quarter worth about $47,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Navigator during the 2nd quarter worth about $100,000. Madison Asset Management LLC purchased a new position in shares of Navigator during the 1st quarter worth about $133,000. Finally, Corton Capital Inc. purchased a new position in shares of Navigator during the 2nd quarter worth about $153,000. 18.95% of the stock is owned by hedge funds and other institutional investors.

Navigator Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $15.19 and its 200 day moving average is $14.49. The stock has a market capitalization of $1.10 billion, a PE ratio of 12.32 and a beta of 0.74.

About Navigator

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.

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