Dorian LPG (NYSE:LPG) Reaches New 12-Month Low – Here’s Why

Dorian LPG Ltd. (NYSE:LPG) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $26.11 and last traded at $26.19, with a volume of 126114 shares changing hands. The stock had previously closed at $26.86.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Dorian LPG in a report on Thursday, October 31st.

Dorian LPG Stock Performance

The business has a 50-day simple moving average of $33.13 and a 200 day simple moving average of $38.72. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.22 and a quick ratio of 4.20. The firm has a market cap of $1.14 billion, a PE ratio of 4.50 and a beta of 1.00.

Dorian LPG (NYSE:LPG) last released its earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.17). The firm had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $82.40 million. Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The company’s revenue was down 43.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 earnings per share. Equities research analysts forecast that Dorian LPG Ltd. will post 3.45 EPS for the current year.

Dorian LPG Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, November 25th. Shareholders of record on Tuesday, November 5th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, November 5th.

Hedge Funds Weigh In On Dorian LPG

Several large investors have recently made changes to their positions in LPG. Beacon Capital Management LLC bought a new stake in Dorian LPG during the 1st quarter valued at approximately $27,000. Quarry LP raised its position in shares of Dorian LPG by 57.8% during the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock valued at $40,000 after buying an additional 345 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Dorian LPG by 60.3% in the second quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock worth $44,000 after buying an additional 395 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Dorian LPG by 126.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock worth $52,000 after acquiring an additional 697 shares during the last quarter. Finally, CWM LLC grew its stake in Dorian LPG by 285.4% during the third quarter. CWM LLC now owns 2,058 shares of the shipping company’s stock valued at $71,000 after acquiring an additional 1,524 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.