Dorian LPG Ltd. (LPG) Cut to “Hold” at DNB Markets
Dorian LPG Ltd. (NYSE:LPG) was downgraded by analysts at DNB Markets from a “buy” rating to a “hold” rating in a research note issued on Friday, The Fly reports.
LPG has been the topic of several other research reports. ValuEngine upgraded Dorian LPG from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. BidaskClub lowered Dorian LPG from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research upgraded Dorian LPG from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.00.
Shares of Dorian LPG (NYSE LPG) traded down 1.45% during mid-day trading on Friday, hitting $7.48. 240,174 shares of the stock were exchanged. The firm’s market cap is $404.49 million. Dorian LPG has a 12 month low of $5.63 and a 12 month high of $12.50. The stock’s 50 day moving average is $7.50 and its 200 day moving average is $7.85.
Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Monday, July 31st. The shipping company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $41.00 million for the quarter, compared to analyst estimates of $37.65 million. Dorian LPG had a negative return on equity of 4.16% and a negative net margin of 4.33%. The business’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. Analysts expect that Dorian LPG will post ($0.50) EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in LPG. Nationwide Fund Advisors boosted its position in Dorian LPG by 29.5% during the first quarter. Nationwide Fund Advisors now owns 25,457 shares of the shipping company’s stock valued at $268,000 after purchasing an additional 5,793 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Dorian LPG during the first quarter valued at about $235,000. Bank of New York Mellon Corp boosted its position in Dorian LPG by 17.7% during the first quarter. Bank of New York Mellon Corp now owns 73,254 shares of the shipping company’s stock valued at $772,000 after purchasing an additional 11,034 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Dorian LPG by 177.1% during the first quarter. Parametric Portfolio Associates LLC now owns 91,434 shares of the shipping company’s stock valued at $963,000 after purchasing an additional 58,440 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Dorian LPG by 37.0% during the first quarter. Prudential Financial Inc. now owns 199,400 shares of the shipping company’s stock valued at $2,099,000 after purchasing an additional 53,800 shares in the last quarter. Hedge funds and other institutional investors own 45.50% of the company’s stock.
About Dorian LPG
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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