Dorian LPG Ltd. (LPG) Stock Rating Lowered by Zacks Investment Research
Dorian LPG Ltd. (NYSE:LPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “
Separately, ABN Amro cut shares of Dorian LPG from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th.
Shares of Dorian LPG (NYSE:LPG) opened at 6.18 on Wednesday. The stock has a market capitalization of $333.63 million, a price-to-earnings ratio of 3.02 and a beta of 1.01. Dorian LPG has a 12-month low of $5.07 and a 12-month high of $13.80. The firm has a 50-day moving average of $5.90 and a 200 day moving average of $7.48.
Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.05. Dorian LPG had a net margin of 37.74% and a return on equity of 13.85%. The business earned $50.50 million during the quarter, compared to analysts’ expectations of $34.90 million. During the same period in the prior year, the business earned $0.24 EPS. The business’s quarterly revenue was up 54.9% on a year-over-year basis. Equities analysts forecast that Dorian LPG will post ($0.31) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Dorian LPG during the second quarter valued at approximately $123,000. Alliancebernstein L.P. raised its position in shares of Dorian LPG by 49.0% in the second quarter. Alliancebernstein L.P. now owns 21,300 shares of the company’s stock valued at $150,000 after buying an additional 7,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Dorian LPG during the second quarter valued at approximately $155,000. Royal Bank of Canada raised its position in shares of Dorian LPG by 566.9% in the second quarter. Royal Bank of Canada now owns 34,185 shares of the company’s stock valued at $241,000 after buying an additional 29,059 shares during the period. Finally, Robotti Robert raised its position in shares of Dorian LPG by 3.1% in the first quarter. Robotti Robert now owns 25,775 shares of the company’s stock valued at $242,000 after buying an additional 775 shares during the period. 48.02% of the stock is owned by hedge funds and other institutional investors.
About Dorian LPG
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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