Dorian LPG (LPG) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Dorian LPG (NYSE:LPG) from a buy rating to a hold rating in a report published 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, ValuEngine raised Dorian LPG from a hold rating to a buy rating in a research note on Tuesday, October 2nd.

Dorian LPG stock opened at $7.49 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $458.99 million, a price-to-earnings ratio of -12.08 and a beta of 0.86. Dorian LPG has a 52 week low of $6.87 and a 52 week high of $8.80.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Wednesday, October 31st. The shipping company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $40.81 million for the quarter, compared to analyst estimates of $38.32 million. Dorian LPG had a negative return on equity of 4.58% and a negative net margin of 20.11%. Research analysts anticipate that Dorian LPG will post -0.71 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of LPG. Donald Smith & CO. Inc. bought a new position in Dorian LPG during the 2nd quarter worth $132,000. Barclays PLC increased its stake in Dorian LPG by 127.0% during the 1st quarter. Barclays PLC now owns 17,837 shares of the shipping company’s stock worth $134,000 after acquiring an additional 9,980 shares during the period. FNY Investment Advisers LLC bought a new position in Dorian LPG during the 3rd quarter worth $157,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Dorian LPG during the 2nd quarter worth $184,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Dorian LPG by 61.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 60,270 shares of the shipping company’s stock worth $461,000 after acquiring an additional 23,000 shares during the period. Hedge funds and other institutional investors own 56.93% of the company’s stock.

Dorian LPG Company Profile

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.

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