Zacks Investment Research Downgrades GasLog (GLOG) to Sell
Zacks Investment Research downgraded shares of GasLog (NYSE:GLOG) from a hold rating to a sell rating in a report published on Wednesday.
According to Zacks, “GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. The Company operates in two segments: vessel ownership and vessel management. The vessel ownership segment consists of chartering out company-owned LNG carriers and the vessel management segment consists of providing LNG carrier technical management services, LNG carrier construction supervision services and other vessel management services. GasLog Ltd. is based in Monaco. “
Several other analysts also recently weighed in on the company. Jefferies Group initiated coverage on GasLog in a research report on Monday, December 18th. They set a buy rating and a $20.00 target price for the company. Stifel Nicolaus reiterated a buy rating and set a $20.00 target price (up from $19.00) on shares of GasLog in a research report on Saturday, February 17th. Finally, Morgan Stanley downgraded GasLog from an overweight rating to an equal weight rating and set a $20.00 target price for the company. in a research report on Monday, February 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $20.56.
GasLog (NYSE:GLOG) last issued its quarterly earnings results on Friday, February 16th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.08). The company had revenue of $135.80 million during the quarter, compared to the consensus estimate of $135.72 million. GasLog had a return on equity of 0.16% and a net margin of 2.95%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 earnings per share. analysts anticipate that GasLog will post 0.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Monday, March 5th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, March 2nd. This represents a $0.56 annualized dividend and a dividend yield of 3.25%. GasLog’s dividend payout ratio (DPR) is 800.00%.
Several large investors have recently added to or reduced their stakes in GLOG. Schwab Charles Investment Management Inc. raised its holdings in shares of GasLog by 19.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 73,800 shares of the shipping company’s stock valued at $1,126,000 after acquiring an additional 12,000 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of GasLog by 16.8% in the second quarter. Alliancebernstein L.P. now owns 55,000 shares of the shipping company’s stock valued at $839,000 after acquiring an additional 7,900 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of GasLog by 2.5% in the second quarter. Teachers Advisors LLC now owns 74,734 shares of the shipping company’s stock valued at $1,140,000 after acquiring an additional 1,793 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of GasLog in the second quarter valued at about $244,000. Finally, Northern Trust Corp raised its holdings in shares of GasLog by 1.7% in the second quarter. Northern Trust Corp now owns 418,827 shares of the shipping company’s stock valued at $6,388,000 after acquiring an additional 7,135 shares in the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.
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GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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