Dorian LPG (LPG) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Dorian LPG (NYSE:LPG) released its quarterly earnings results on Thursday. The shipping company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.07), Morningstar.com reports. The company had revenue of $34.47 million for the quarter, compared to analyst estimates of $37.43 million. Dorian LPG had a negative return on equity of 4.35% and a negative net margin of 23.65%.

Shares of LPG opened at $7.00 on Friday. Dorian LPG has a 52-week low of $5.26 and a 52-week high of $8.80. The company has a market capitalization of $374.67 million, a price-to-earnings ratio of -11.29 and a beta of 0.99. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.70.

In other news, Director Christina Tan purchased 5,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was acquired at an average cost of $5.85 per share, for a total transaction of $29,250.00. Following the acquisition, the director now owns 72,729 shares of the company’s stock, valued at $425,464.65. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider John C. Hadjipateras purchased 7,500 shares of the stock in a transaction dated Friday, April 5th. The stock was purchased at an average price of $7.73 per share, with a total value of $57,975.00. Following the completion of the acquisition, the insider now directly owns 141,994 shares in the company, valued at approximately $1,097,613.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 32,500 shares of company stock worth $215,825. 26.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in LPG. Renaissance Technologies LLC lifted its holdings in shares of Dorian LPG by 13.9% during the first quarter. Renaissance Technologies LLC now owns 38,737 shares of the shipping company’s stock valued at $249,000 after purchasing an additional 4,715 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Dorian LPG in the 1st quarter worth about $79,000. Commonwealth Equity Services LLC acquired a new position in Dorian LPG in the 1st quarter worth about $102,000. Private Management Group Inc. increased its holdings in shares of Dorian LPG by 11.5% during the 1st quarter. Private Management Group Inc. now owns 620,176 shares of the shipping company’s stock valued at $3,982,000 after acquiring an additional 63,994 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Dorian LPG during the 1st quarter valued at about $95,000. Institutional investors and hedge funds own 54.92% of the company’s stock.

LPG has been the topic of several recent research reports. ValuEngine raised Dorian LPG from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Zacks Investment Research lowered Dorian LPG from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, DNB Markets raised Dorian LPG from a “hold” rating to a “buy” rating in a research report on Friday, February 8th.

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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.

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Earnings History for Dorian LPG (NYSE:LPG)

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