StealthGas (NASDAQ:GASS) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

StealthGas (NASDAQ:GASS) reported quarterly earnings of $0.36 per share, surpassing analysts' expectations of $0.31. The company achieved a net margin of 35.16% and a return on equity of 9.68%. Compared to the previous year, EPS increased from $0.33. The stock rose 1.3% to $6.91, with institutional investors increasing their stakes. Analysts have upgraded the stock to a 'Buy' rating. StealthGas provides seaborne transportation services for liquefied petroleum gas and other products globally.

StealthGas (NASDAQ:GASS - Get Free Report) announced its quarterly earnings results on Tuesday. The shipping company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05, RTT News reports. StealthGas had a net margin of 35.16% and a return on equity of 9.68%. During the same quarter in the previous year, the business posted $0.33 earnings per share.

StealthGas Stock Up 1.3%

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Shares of GASS traded up $0.09 during trading on Tuesday, reaching $6.91. The company's stock had a trading volume of 27,857 shares, compared to its average volume of 104,686. The company has a market cap of $256.63 million, a price-to-earnings ratio of 4.12 and a beta of 0.20. The company has a quick ratio of 3.73, a current ratio of 3.87 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $6.66 and a two-hundred day moving average of $6.62. StealthGas has a twelve month low of $4.82 and a twelve month high of $8.18.

Institutional Trading of StealthGas

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its position in shares of StealthGas by 21.4% in the 3rd quarter. UBS Group AG now owns 260,133 shares of the shipping company's stock worth $1,704,000 after purchasing an additional 45,846 shares during the last quarter. Two Sigma Investments LP increased its holdings in StealthGas by 31.3% in the third quarter. Two Sigma Investments LP now owns 237,238 shares of the shipping company's stock valued at $1,554,000 after buying an additional 56,493 shares during the last quarter. Millennium Management LLC raised its stake in StealthGas by 24.5% during the third quarter. Millennium Management LLC now owns 208,190 shares of the shipping company's stock valued at $1,364,000 after buying an additional 40,912 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in StealthGas by 15.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 122,155 shares of the shipping company's stock worth $800,000 after buying an additional 16,129 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in StealthGas by 48.4% during the 3rd quarter. Citadel Advisors LLC now owns 115,206 shares of the shipping company's stock worth $755,000 after buying an additional 37,550 shares during the last quarter. 66.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GASS. Wall Street Zen raised StealthGas from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Weiss Ratings restated a "buy (b-)" rating on shares of StealthGas in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, StealthGas currently has a consensus rating of "Buy".

View Our Latest Research Report on StealthGas

StealthGas Company Profile

(Get Free Report)

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel; and edible oils and chemicals.

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