GasLog Ltd (GLOG) Announces Quarterly Earnings Results
GasLog Ltd (NYSE:GLOG) posted its quarterly earnings data on Friday. The shipping company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The company had revenue of $128.30 million during the quarter, compared to analysts’ expectations of $129.35 million. GasLog had a negative net margin of 10.57% and a negative return on equity of 0.14%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share.
Shares of GasLog (NYSE:GLOG) traded up 1.654% on Friday, reaching $13.825. 60,732 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $14.14 and its 200-day moving average price is $15.49. GasLog has a 52 week low of $11.19 and a 52 week high of $17.85. The stock’s market capitalization is $1.11 billion.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Monday, May 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, May 11th. GasLog’s dividend payout ratio (DPR) is presently -74.67%.
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Several large investors have recently bought and sold shares of GLOG. Peregrine Capital Management LLC bought a new position in shares of GasLog during the third quarter worth approximately $13,589,000. Frontier Capital Management Co. LLC bought a new position in shares of GasLog during the first quarter worth approximately $13,445,000. HITE Hedge Asset Management LLC bought a new position in shares of GasLog during the first quarter worth approximately $12,032,000. Eagle Global Advisors LLC raised its position in shares of GasLog by 11.8% in the third quarter. Eagle Global Advisors LLC now owns 3,390,596 shares of the shipping company’s stock worth $49,333,000 after buying an additional 358,327 shares in the last quarter. Finally, Point72 Europe London LLP bought a new position in shares of GasLog during the first quarter worth approximately $3,875,000. 46.61% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on GLOG. Zacks Investment Research lowered shares of GasLog from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. JPMorgan Chase & Co. raised shares of GasLog from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $14.00 in a report on Tuesday, February 21st. Wells Fargo & Co raised shares of GasLog from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Wednesday, January 25th. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 price objective on shares of GasLog in a report on Friday, February 24th. Finally, Credit Suisse Group AG initiated coverage on shares of GasLog in a report on Tuesday, April 25th. They issued an “outperform” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.43.
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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