Dorian LPG (NYSE:LPG) Posts Quarterly Earnings Results, Beats Expectations By $0.61 EPS

Dorian LPG (NYSE:LPG) announced its quarterly earnings data on Wednesday. The shipping company reported $3.46 EPS for the quarter, beating the consensus estimate of $2.85 by $0.61, FiscalAI reports. The firm had revenue of $221.35 million during the quarter, compared to analysts’ expectations of $194.90 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The business’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share.

Dorian LPG Price Performance

LPG stock traded down $3.29 during trading on Thursday, hitting $46.14. The stock had a trading volume of 777,282 shares, compared to its average volume of 598,151. The company’s 50 day moving average price is $54.26 and its two-hundred day moving average price is $42.26. Dorian LPG has a 1-year low of $23.76 and a 1-year high of $59.97. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 6.11 and a beta of 0.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26.

Dorian LPG Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, November 9th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, November 9th. Dorian LPG’s payout ratio is presently 13.25%.

Analysts Set New Price Targets

A number of research analysts have issued reports on LPG shares. Wall Street Zen raised shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a research report on Tuesday, August 25th. Finally, Freedom Capital raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dorian LPG has an average rating of “Buy” and an average price target of $55.00.

Insider Buying and Selling at Dorian LPG

In other Dorian LPG news, CFO Theodore Young sold 11,919 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.50, for a total transaction of $649,585.50. Following the sale, the chief financial officer directly owned 107,794 shares of the company’s stock, valued at $5,874,773. This trade represents a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alexander Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.13, for a total transaction of $270,650.00. Following the sale, the chief operating officer owned 95,836 shares of the company’s stock, valued at approximately $5,187,602.68. This trade represents a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 106,000 shares of company stock worth $5,455,849. Corporate insiders own 13.50% of the company’s stock.

About Dorian LPG

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.