GasLog (NYSE:GLOG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. The Company operates in two segments: vessel ownership and vessel management. The vessel ownership segment consists of chartering out company-owned LNG carriers and the vessel management segment consists of providing LNG carrier technical management services, LNG carrier construction supervision services and other vessel management services. GasLog Ltd. is based in Monaco. “
Several other brokerages have also issued reports on GLOG. Morgan Stanley lowered GasLog from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a report on Monday, February 12th. They noted that the move was a valuation call. Jefferies Group started coverage on GasLog in a report on Monday, December 18th. They issued a “buy” rating and a $20.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target (up previously from $19.00) on shares of GasLog in a report on Saturday, February 17th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $23.00 price target on shares of GasLog in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $20.97.
GasLog (NYSE:GLOG) last announced its earnings results on Friday, February 16th. The shipping company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.08). GasLog had a net margin of 2.95% and a return on equity of 0.16%. The business had revenue of $135.80 million for the quarter, compared to the consensus estimate of $135.72 million. During the same quarter in the previous year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. analysts predict that GasLog will post 0.55 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Eagle Global Advisors LLC raised its stake in shares of GasLog by 30.6% in the second quarter. Eagle Global Advisors LLC now owns 4,463,509 shares of the shipping company’s stock worth $68,069,000 after purchasing an additional 1,046,574 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of GasLog in the third quarter worth approximately $13,589,000. GCA Investment Management LLC purchased a new stake in shares of GasLog in the fourth quarter worth approximately $7,465,000. Frontier Capital Management Co. LLC purchased a new stake in shares of GasLog in the first quarter worth approximately $13,445,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of GasLog in the fourth quarter worth approximately $6,975,000. Institutional investors and hedge funds own 48.66% of the company’s stock.
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GasLog Company Profile
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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