Dorian LPG Ltd. (LPG) to Issue Quarterly Dividend of $0.65 on December 2nd

Dorian LPG Ltd. (NYSE:LPG) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Monday, November 17th will be given a dividend of 0.65 per share by the shipping company on Tuesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date is Monday, November 17th. This is a 8.3% increase from Dorian LPG’s previous quarterly dividend of $0.60.

Dorian LPG has a payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dorian LPG to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 41.8%.

Dorian LPG Stock Performance

Shares of LPG stock opened at $27.71 on Friday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 12.43 and a beta of 0.76. The stock has a fifty day moving average of $29.42 and a 200 day moving average of $27.08. Dorian LPG has a 52 week low of $16.66 and a 52 week high of $32.79. The company has a quick ratio of 3.30, a current ratio of 3.32 and a debt-to-equity ratio of 0.44.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Thursday, November 6th. The shipping company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.09). Dorian LPG had a net margin of 26.02% and a return on equity of 9.13%. The company had revenue of $124.06 million for the quarter, compared to analysts’ expectations of $126.99 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was up 50.6% compared to the same quarter last year. As a group, research analysts expect that Dorian LPG will post 2.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LPG. Weiss Ratings restated a “hold (c)” rating on shares of Dorian LPG in a report on Wednesday, October 8th. Jefferies Financial Group raised their target price on Dorian LPG from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Zacks Research cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.00.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.