Zacks Investment Research Lowers Dorian LPG (LPG) to Hold

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Zacks Investment Research lowered shares of Dorian LPG (NYSE:LPG) from a buy rating to a hold rating in a research note released on Wednesday morning.

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. “

Separately, ValuEngine downgraded shares of Dorian LPG from a buy rating to a hold rating in a report on Tuesday.

Shares of LPG traded down $0.68 during mid-day trading on Wednesday, hitting $7.49. 121,488 shares of the company were exchanged, compared to its average volume of 134,177. The company has a market cap of $458.99 million, a PE ratio of -12.08 and a beta of 0.86. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. Dorian LPG has a 1-year low of $6.87 and a 1-year high of $8.80.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Wednesday, October 31st. The shipping company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.01. The company had revenue of $40.81 million during the quarter, compared to the consensus estimate of $38.32 million. Dorian LPG had a negative net margin of 20.11% and a negative return on equity of 4.58%. As a group, sell-side analysts expect that Dorian LPG will post -0.71 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Dorian LPG by 0.4% in the 3rd quarter. BlackRock Inc. now owns 1,755,254 shares of the shipping company’s stock valued at $13,988,000 after acquiring an additional 6,691 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Dorian LPG in the 3rd quarter valued at about $157,000. United Services Automobile Association raised its holdings in Dorian LPG by 17.5% in the 2nd quarter. United Services Automobile Association now owns 566,167 shares of the shipping company’s stock valued at $4,326,000 after acquiring an additional 84,210 shares during the last quarter. Northern Trust Corp raised its holdings in Dorian LPG by 22.2% in the 2nd quarter. Northern Trust Corp now owns 341,398 shares of the shipping company’s stock valued at $2,609,000 after acquiring an additional 62,055 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Dorian LPG by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 102,979 shares of the shipping company’s stock valued at $787,000 after acquiring an additional 7,278 shares during the last quarter. Institutional investors own 56.93% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

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