Dorian LPG (LPG) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Dorian LPG (NYSE:LPG) from a buy rating to a hold rating in a research report released on Tuesday, January 9th.

According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “

Several other research analysts have also recently weighed in on LPG. ValuEngine upgraded Dorian LPG from a sell rating to a hold rating in a report on Thursday, November 9th. DNB Markets cut Dorian LPG from a buy rating to a hold rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Dorian LPG presently has an average rating of Hold and a consensus price target of $9.17.

Dorian LPG (LPG) opened at $7.78 on Tuesday. The firm has a market capitalization of $428.80, a P/E ratio of -37.05 and a beta of 1.20. Dorian LPG has a twelve month low of $6.20 and a twelve month high of $12.50. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Dorian LPG (NYSE:LPG) last issued its earnings results on Friday, November 3rd. The shipping company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.02. The business had revenue of $34.73 million for the quarter, compared to analysts’ expectations of $31.13 million. Dorian LPG had a negative return on equity of 4.06% and a negative net margin of 7.30%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) EPS. research analysts predict that Dorian LPG will post -0.66 earnings per share for the current year.

In other news, Director Christina Tan purchased 10,000 shares of Dorian LPG stock in a transaction dated Friday, December 8th. The shares were purchased at an average price of $7.00 per share, with a total value of $70,000.00. Following the transaction, the director now owns 39,475 shares in the company, valued at $276,325. The purchase was disclosed in a document filed with the SEC, which is available through this link. 26.50% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in LPG. Macquarie Group Ltd. purchased a new stake in shares of Dorian LPG during the 3rd quarter valued at approximately $120,000. Voya Investment Management LLC raised its position in shares of Dorian LPG by 21.3% during the 2nd quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock valued at $129,000 after buying an additional 2,763 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Dorian LPG during the 3rd quarter valued at approximately $199,000. Alliancebernstein L.P. raised its position in shares of Dorian LPG by 24.4% during the 2nd quarter. Alliancebernstein L.P. now owns 29,100 shares of the shipping company’s stock valued at $238,000 after buying an additional 5,700 shares during the period. Finally, Foundation Resource Management Inc. purchased a new stake in shares of Dorian LPG during the 4th quarter valued at approximately $389,000. 47.71% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Dorian LPG (LPG) Cut to “Hold” at Zacks Investment Research” was originally posted by BBNS and is the property of of BBNS. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://baseballnewssource.com/markets/dorian-lpg-lpg-downgraded-to-hold-at-zacks-investment-research/1819689.html.

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.

Get a free copy of the Zacks research report on Dorian LPG (LPG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Dorian LPG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorian LPG and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires


Leave a Reply

 
© 2006-2018 BBNS.