GasLog Ltd (GLOG) Expected to Announce Quarterly Sales of $154.52 Million

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Brokerages forecast that GasLog Ltd (NYSE:GLOG) will announce sales of $154.52 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for GasLog’s earnings, with estimates ranging from $151.00 million to $161.48 million. GasLog reported sales of $131.24 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that GasLog will report full year sales of $590.80 million for the current financial year, with estimates ranging from $579.38 million to $616.73 million. For the next fiscal year, analysts forecast that the company will post sales of $684.77 million per share, with estimates ranging from $666.39 million to $696.23 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover GasLog.

GasLog (NYSE:GLOG) last announced its earnings results on Thursday, August 2nd. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.05). The business had revenue of $126.61 million during the quarter, compared to the consensus estimate of $139.78 million. GasLog had a net margin of 5.56% and a negative return on equity of 0.31%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS.

A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of GasLog from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Berenberg Bank assumed coverage on GasLog in a research note on Thursday, September 6th. They issued a “buy” rating and a $22.00 price target for the company. DNB Markets raised GasLog from a “hold” rating to a “buy” rating and set a $17.80 price target for the company in a research note on Wednesday, September 5th. Morgan Stanley raised GasLog from an “equal weight” rating to a “buy” rating in a research note on Friday, August 24th. Finally, BTIG Research assumed coverage on GasLog in a research note on Wednesday, July 18th. They issued a “buy” rating and a $23.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. GasLog has an average rating of “Buy” and a consensus target price of $21.10.

Shares of GasLog stock opened at $19.00 on Friday. GasLog has a 52-week low of $15.75 and a 52-week high of $22.55. The company has a quick ratio of 1.17, a current ratio of 1.20 and a debt-to-equity ratio of 1.58.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Monday, August 13th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Friday, August 10th.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in GasLog in the second quarter valued at about $115,000. Envestnet Asset Management Inc. raised its stake in GasLog by 147.5% during the first quarter. Envestnet Asset Management Inc. now owns 7,385 shares of the shipping company’s stock worth $121,000 after acquiring an additional 4,401 shares in the last quarter. Quantbot Technologies LP acquired a new position in GasLog during the first quarter worth about $181,000. Quantitative Systematic Strategies LLC acquired a new position in GasLog during the second quarter worth about $306,000. Finally, Element Capital Management LLC acquired a new position in GasLog during the first quarter worth about $293,000. 47.14% of the stock is owned by institutional investors and hedge funds.

About GasLog

GasLog Ltd. operates as an owner, operator, and manager of liquefied natural gas (LNG) carriers providing support to international energy companies. It provides maritime services for the transportation of LNG on a worldwide basis and vessel management services. As of February 28, 2018, its owned fleet consisted of 28 LNG carriers, including 23 ships on the water and 5 on order.

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