Dorian LPG Ltd. (LPG) to Issue Quarterly Dividend of $0.65 on December 2nd

Dorian LPG Ltd. (NYSE:LPG) declared a quarterly dividend on Thursday, November 6th. Investors of record on Monday, November 17th will be given a dividend of 0.65 per share by the shipping company on Tuesday, December 2nd. This represents a c) dividend on an annualized basis and a yield of 9.7%. The ex-dividend date is Monday, November 17th. This is a 8.3% increase from Dorian LPG’s previous quarterly dividend of $0.60.

Dorian LPG has a payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dorian LPG to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 41.8%.

Dorian LPG Price Performance

Shares of NYSE LPG traded up $0.25 during midday trading on Friday, reaching $26.73. The company’s stock had a trading volume of 632,478 shares, compared to its average volume of 475,659. Dorian LPG has a one year low of $16.66 and a one year high of $32.79. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 11.99 and a beta of 0.76. The company has a 50 day moving average price of $29.00 and a 200 day moving average price of $27.28. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.44.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, November 6th. The shipping company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.09). Dorian LPG had a return on equity of 9.13% and a net margin of 26.02%.The business had revenue of $124.06 million during the quarter, compared to analyst estimates of $126.99 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 50.6% compared to the same quarter last year. On average, equities research analysts expect that Dorian LPG will post 2.6 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Zacks Research lowered Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Pareto Securities cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dorian LPG in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

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.