StealthGas Inc. (GASS) Releases Earnings Results, Misses Estimates By $0.08 EPS
StealthGas Inc. (NASDAQ:GASS) issued its earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.08. StealthGas had a positive return on equity of 0.10% and a negative net margin of 2.01%. The firm had revenue of $34.40 million for the quarter, compared to analyst estimates of $35.80 million.
Shares of StealthGas (NASDAQ:GASS) opened at 3.46 on Wednesday. The stock’s market capitalization is $137.52 million. The company has a 50-day moving average price of $3.24 and a 200-day moving average price of $3.64. StealthGas has a 52-week low of $2.39 and a 52-week high of $5.18.
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Separately, Barclays PLC lowered their target price on StealthGas from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $7.00.
A number of institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of StealthGas by 0.3% in the second quarter. State Street Corp now owns 33,611 shares of the company’s stock worth $127,000 after buying an additional 104 shares in the last quarter. Towerview LLC raised its stake in shares of StealthGas by 13.6% in the third quarter. Towerview LLC now owns 136,329 shares of the company’s stock worth $472,000 after buying an additional 16,329 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of StealthGas during the second quarter worth $1,581,000. California Public Employees Retirement System raised its stake in shares of StealthGas by 7.3% in the second quarter. California Public Employees Retirement System now owns 586,400 shares of the company’s stock worth $2,217,000 after buying an additional 40,100 shares in the last quarter. Finally, Robotti Robert raised its stake in shares of StealthGas by 24.8% in the second quarter. Robotti Robert now owns 632,069 shares of the company’s stock worth $2,389,000 after buying an additional 125,450 shares in the last quarter. Institutional investors and hedge funds own 61.45% of the company’s stock.
StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.
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