PetroLogistics Trading Up 5.2% on Better-Than-Expected Earnings (PDH)
PetroLogistics (NYSE:PDH)’s share price was up 5.2% on Thursday after the company announced better than expected quarterly earnings, AnalystRatings.Net reports. The company traded as high as $13.25 and last traded at $13.00, with a volume of 286,021 shares. The stock had previously closed at $12.36.
The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.01.
Separately, analysts at Zacks downgraded shares of PetroLogistics from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 8th. They now have a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.70.
The stock has a 50-day moving average of $12.61 and a 200-day moving average of $12.11. The company has a market cap of $1.832 billion and a price-to-earnings ratio of 9.83.
PetroLogistics LP owns and operates propane dehydrogenation (NYSE:PDH) facility.
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