BW LPG (NYSE:BWLP) Shares Gap Down on Disappointing Earnings

Shares of BW LPG Limited (NYSE:BWLP) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.53, but opened at $11.77. BW LPG shares last traded at $11.8160, with a volume of 469,242 shares trading hands.

The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). The business had revenue of $279.98 million for the quarter, compared to analyst estimates of $242.92 million. BW LPG had a return on equity of 11.70% and a net margin of 6.09%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of BW LPG in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, BW LPG has a consensus rating of “Moderate Buy”.

Institutional Trading of BW LPG

Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of BW LPG in the 3rd quarter valued at $36,000. XTX Topco Ltd acquired a new stake in shares of BW LPG during the third quarter worth about $515,000. Susquehanna Advisors Group Inc. purchased a new stake in shares of BW LPG in the 3rd quarter valued at about $206,000. Numerai GP LLC boosted its position in shares of BW LPG by 40.7% in the 3rd quarter. Numerai GP LLC now owns 28,947 shares of the company’s stock valued at $413,000 after purchasing an additional 8,377 shares during the period. Finally, Citadel Advisors LLC purchased a new position in BW LPG during the 3rd quarter worth approximately $262,000.

BW LPG Stock Down 4.1%

The stock has a market cap of $1.58 billion and a PE ratio of 7.80. The business has a 50 day moving average of $13.17 and a 200-day moving average of $13.28. The company has a current ratio of 1.27, a quick ratio of 1.22 and a debt-to-equity ratio of 0.45.

About BW LPG

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.