$35.29 Million in Sales Expected for Dynagas LNG Partners LP (DLNG) This Quarter
Wall Street brokerages forecast that Dynagas LNG Partners LP (NYSE:DLNG) will report sales of $35.29 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Dynagas LNG Partners’ earnings. The highest sales estimate is $37.70 million and the lowest is $33.19 million. Dynagas LNG Partners posted sales of $43.09 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.1%. The business is expected to issue its next quarterly earnings report on Monday, November 13th.
According to Zacks, analysts expect that Dynagas LNG Partners will report full-year sales of $35.29 million for the current year, with estimates ranging from $135.34 million to $146.50 million. For the next financial year, analysts expect that the firm will post sales of $143.44 million per share, with estimates ranging from $127.40 million to $159.37 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Dynagas LNG Partners.
Dynagas LNG Partners (NYSE:DLNG) last issued its quarterly earnings data on Tuesday, September 5th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). Dynagas LNG Partners had a net margin of 26.03% and a return on equity of 19.22%. The company had revenue of $31.98 million during the quarter, compared to analysts’ expectations of $33.70 million.
DLNG has been the topic of a number of research analyst reports. BidaskClub cut Dynagas LNG Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, September 2nd. Maxim Group restated a “buy” rating and set a $18.00 price target on shares of Dynagas LNG Partners in a research note on Tuesday, September 5th. Morgan Stanley dropped their price target on Dynagas LNG Partners to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 13th. Stifel Nicolaus restated a “buy” rating and issued a $19.00 price objective on shares of Dynagas LNG Partners in a report on Friday, July 21st. Finally, Zacks Investment Research upgraded Dynagas LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Dynagas LNG Partners presently has a consensus rating of “Hold” and an average price target of $17.20.
Dynagas LNG Partners (NYSE DLNG) traded down 0.29% during trading on Wednesday, reaching $13.98. The company had a trading volume of 114,565 shares. Dynagas LNG Partners has a 12 month low of $12.76 and a 12 month high of $17.93. The firm’s 50 day moving average is $13.85 and its 200-day moving average is $15.20. The company has a market capitalization of $496.64 million, a P/E ratio of 14.72 and a beta of 1.10.
ILLEGAL ACTIVITY WARNING: “$35.29 Million in Sales Expected for Dynagas LNG Partners LP (DLNG) This Quarter” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/04/35-29-million-in-sales-expected-for-dynagas-lng-partners-lp-dlng-this-quarter.html.
Several large investors have recently bought and sold shares of DLNG. Ameriprise Financial Inc. purchased a new stake in Dynagas LNG Partners during the 1st quarter worth $643,000. Van ECK Associates Corp acquired a new stake in Dynagas LNG Partners in the 1st quarter valued at $4,484,000. Renaissance Technologies LLC increased its holdings in Dynagas LNG Partners by 68.0% in the 1st quarter. Renaissance Technologies LLC now owns 270,126 shares of the shipping company’s stock valued at $4,760,000 after purchasing an additional 109,302 shares in the last quarter. Bank of America Corp DE increased its holdings in Dynagas LNG Partners by 10.4% in the 1st quarter. Bank of America Corp DE now owns 638,715 shares of the shipping company’s stock valued at $11,254,000 after purchasing an additional 60,224 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Dynagas LNG Partners by 86.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,099 shares of the shipping company’s stock valued at $548,000 after purchasing an additional 14,378 shares in the last quarter. Institutional investors and hedge funds own 19.63% of the company’s stock.
Dynagas LNG Partners Company Profile
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company’s vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dynagas LNG Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dynagas LNG Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.