Zacks: Analysts Anticipate Dorian LPG Ltd. (LPG) Will Announce Quarterly Sales of $32.05 Million
Analysts expect that Dorian LPG Ltd. (NYSE:LPG) will report $32.05 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Dorian LPG’s earnings. The lowest sales estimate is $31.40 million and the highest is $32.69 million. Dorian LPG posted sales of $33.61 million in the same quarter last year, which suggests a negative year over year growth rate of 4.6%. The business is expected to announce its next earnings results on Friday, October 27th.
On average, analysts expect that Dorian LPG will report full year sales of $32.05 million for the current year, with estimates ranging from $141.96 million to $149.00 million. For the next financial year, analysts forecast that the business will report sales of $205.40 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Dorian LPG.
Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Monday, July 31st. The shipping company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). Dorian LPG had a negative net margin of 4.33% and a negative return on equity of 4.16%. The company had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $37.65 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was down 17.6% on a year-over-year basis.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Dorian LPG from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine lowered Dorian LPG from a “hold” rating to a “sell” rating in a research report on Saturday, September 30th. UBS AG set a $8.00 price target on Dorian LPG and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub lowered Dorian LPG from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, Pareto Securities raised Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Dorian LPG presently has an average rating of “Hold” and a consensus price target of $9.00.
Shares of Dorian LPG (LPG) opened at 7.47 on Friday. Dorian LPG has a 12-month low of $5.63 and a 12-month high of $12.50. The firm’s market cap is $403.95 million. The firm’s 50-day moving average is $7.18 and its 200-day moving average is $8.15.
In other Dorian LPG news, insider John C. Hadjipateras sold 250,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $7.55, for a total value of $1,887,500.00. Following the sale, the insider now directly owns 2,037,020 shares of the company’s stock, valued at $15,379,501. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of LPG. HighTower Advisors LLC acquired a new stake in Dorian LPG in the first quarter worth $12,258,000. Royce & Associates LP increased its position in Dorian LPG by 41.7% in the second quarter. Royce & Associates LP now owns 1,044,831 shares of the shipping company’s stock worth $8,547,000 after buying an additional 307,597 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Dorian LPG in the second quarter worth $2,487,000. Dimensional Fund Advisors LP increased its position in Dorian LPG by 29.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,331,436 shares of the shipping company’s stock worth $14,020,000 after buying an additional 299,021 shares during the period. Finally, Global X Management Co. LLC increased its position in Dorian LPG by 22.5% in the second quarter. Global X Management Co. LLC now owns 608,078 shares of the shipping company’s stock worth $4,974,000 after buying an additional 111,551 shares during the period. 45.63% of the stock is currently owned by hedge funds and other institutional investors.
Dorian LPG Company Profile
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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