Dorian LPG Ltd (LPG) Expected to Announce Quarterly Sales of $38.32 Million
Analysts expect Dorian LPG Ltd (NYSE:LPG) to post $38.32 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Dorian LPG’s earnings. The highest sales estimate is $41.10 million and the lowest is $35.53 million. Dorian LPG reported sales of $34.73 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.3%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, October 31st.
According to Zacks, analysts expect that Dorian LPG will report full-year sales of $142.23 million for the current year, with estimates ranging from $131.18 million to $149.00 million. For the next financial year, analysts anticipate that the business will post sales of $178.67 million, with estimates ranging from $160.80 million to $199.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Dorian LPG.
Dorian LPG (NYSE:LPG) last issued its earnings results on Thursday, August 9th. The shipping company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.19). The business had revenue of $27.64 million for the quarter, compared to analyst estimates of $36.89 million. Dorian LPG had a negative return on equity of 4.90% and a negative net margin of 23.51%.
Several institutional investors have recently made changes to their positions in LPG. Royce & Associates LP increased its holdings in shares of Dorian LPG by 6.3% in the 2nd quarter. Royce & Associates LP now owns 2,256,629 shares of the shipping company’s stock valued at $17,241,000 after acquiring an additional 134,500 shares during the period. JPMorgan Chase & Co. increased its position in Dorian LPG by 936.5% in the 1st quarter. JPMorgan Chase & Co. now owns 140,079 shares of the shipping company’s stock valued at $1,050,000 after acquiring an additional 126,564 shares in the last quarter. United Services Automobile Association increased its position in Dorian LPG by 17.5% in the 2nd quarter. United Services Automobile Association now owns 566,167 shares of the shipping company’s stock valued at $4,326,000 after acquiring an additional 84,210 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Dorian LPG by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 102,979 shares of the shipping company’s stock worth $787,000 after acquiring an additional 7,278 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Dorian LPG by 14.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,576,122 shares of the shipping company’s stock worth $19,295,000 after acquiring an additional 327,753 shares during the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.
NYSE LPG traded up $0.08 during trading on Thursday, hitting $8.19. 226,194 shares of the company’s stock were exchanged, compared to its average volume of 130,806. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 1.22. Dorian LPG has a fifty-two week low of $6.87 and a fifty-two week high of $8.80.
About Dorian LPG
Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.
Recommended Story: Why do earnings reports matter?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dorian LPG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorian LPG and related companies with MarketBeat.com's FREE daily email newsletter.