StealthGas Inc. (GASS) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS
StealthGas Inc. (NASDAQ:GASS) announced its earnings results on Tuesday. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.08. StealthGas had a negative net margin of 2.01% and a positive return on equity of 0.10%. The firm had revenue of $34.40 million for the quarter, compared to analysts’ expectations of $35.80 million.
Shares of StealthGas (NASDAQ:GASS) opened at 3.56 on Thursday. The firm’s market cap is $141.50 million. The stock’s 50 day moving average price is $3.24 and its 200 day moving average price is $3.64. StealthGas has a 12 month low of $2.39 and a 12 month high of $5.18.
A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in StealthGas by 0.3% in the second quarter. State Street Corp now owns 33,611 shares of the company’s stock valued at $127,000 after buying an additional 104 shares during the last quarter. Towerview LLC raised its position in StealthGas by 13.6% in the third quarter. Towerview LLC now owns 136,329 shares of the company’s stock valued at $472,000 after buying an additional 16,329 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in StealthGas during the second quarter valued at approximately $1,581,000. California Public Employees Retirement System raised its stake in shares of StealthGas by 7.3% in the second quarter. California Public Employees Retirement System now owns 586,400 shares of the company’s stock valued at $2,217,000 after buying an additional 40,100 shares in the last quarter. Finally, Robotti Robert raised its stake in shares of StealthGas by 24.8% in the second quarter. Robotti Robert now owns 632,069 shares of the company’s stock valued at $2,389,000 after buying an additional 125,450 shares in the last quarter. Hedge funds and other institutional investors own 61.45% of the company’s stock.
A number of equities analysts recently commented on the company. Jefferies Group restated a “buy” rating and set a $7.00 target price on shares of StealthGas in a report on Wednesday. Barclays PLC decreased their price objective on StealthGas from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Monday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. StealthGas has an average rating of “Hold” and an average target price of $7.00.
StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.
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