Navigator (NYSE:NVGS) Announces Quarterly Earnings Results

Navigator (NYSE:NVGS) released its quarterly earnings results on Tuesday. The shipping company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36, Zacks reports. The company had revenue of $153.09 million during the quarter, compared to the consensus estimate of $133.84 million. Navigator had a return on equity of 6.56% and a net margin of 15.57%.

Navigator Stock Performance

NYSE NVGS opened at $16.33 on Wednesday. The business’s 50-day moving average price is $15.88 and its 200 day moving average price is $15.09. Navigator has a twelve month low of $10.55 and a twelve month high of $17.52. The company has a market capitalization of $1.13 billion, a PE ratio of 12.86 and a beta of 0.63. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.70.

Navigator Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Thursday, August 28th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, August 28th. This represents a $0.20 annualized dividend and a yield of 1.2%. Navigator’s dividend payout ratio is 15.75%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings downgraded Navigator from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Navigator in a research report on Thursday, September 25th. They set a “buy” rating and a $24.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and set a $19.00 price target on shares of Navigator in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Navigator has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Hedge Funds Weigh In On Navigator

Several large investors have recently added to or reduced their stakes in NVGS. Millennium Management LLC lifted its position in Navigator by 16.4% during the first quarter. Millennium Management LLC now owns 542,756 shares of the shipping company’s stock worth $7,224,000 after buying an additional 76,287 shares during the period. Goldman Sachs Group Inc. grew its position in Navigator by 18.0% during the first quarter. Goldman Sachs Group Inc. now owns 50,885 shares of the shipping company’s stock valued at $677,000 after acquiring an additional 7,777 shares during the period. Jane Street Group LLC grew its position in Navigator by 674.7% during the first quarter. Jane Street Group LLC now owns 85,843 shares of the shipping company’s stock valued at $1,143,000 after acquiring an additional 74,762 shares during the period. Geode Capital Management LLC purchased a new stake in Navigator during the second quarter valued at about $5,677,000. Finally, JPMorgan Chase & Co. grew its position in Navigator by 118.1% during the second quarter. JPMorgan Chase & Co. now owns 79,438 shares of the shipping company’s stock valued at $1,124,000 after acquiring an additional 43,008 shares during the period. 18.95% of the stock is currently owned by hedge funds and other institutional investors.

About Navigator

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.