Dorian LPG

  • TickerLPG
  • ISINMHY2106R1100
  • ExchangeNew York Stock Exchange
  • SectorIndustrial Transportation
  • CountryUnited States
Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - One step at a time

We reiterate our BUY and USD17 target price; we believe the company is taking the right steps to crystallise shareholder value through dividends, share buybacks and exploring asset sales. We have lowered our 2022e EPS by 29% on a more muted view of the current quarter, but raised our 2023e by 7% and 2024e by 16% on a lower share count and higher fuel spreads.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD16.00) - Returning profits to shareholders

Dorian LPG has announced a USD100m share buyback initiative, a clear testament that management deems the current trading range to be on the cautious side. With a one-year forward NAV of USD20/share, we agree, and reiterate our BUY and USD16 target price based on a 15% discount to steel values. The market looks to be facing a seasonal slowdown in the coming months, but we see activity picking up towards the summer.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - One step at a time

We reiterate our BUY and USD17 target price; we believe the company is taking the right steps to crystallise shareholder value through dividends, share buybacks and exploring asset sales. We have lowered our 2022e EPS by 29% on a more muted view of the current quarter, but raised our 2023e by 7% and 2024e by 16% on a lower share count and higher fuel spreads.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD16.00) - Returning profits to shareholders

Dorian LPG has announced a USD100m share buyback initiative, a clear testament that management deems the current trading range to be on the cautious side. With a one-year forward NAV of USD20/share, we agree, and reiterate our BUY and USD16 target price based on a 15% discount to steel values. The market looks to be facing a seasonal slowdown in the coming months, but we see activity picking up towards the summer.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - One step at a time

We reiterate our BUY and USD17 target price; we believe the company is taking the right steps to crystallise shareholder value through dividends, share buybacks and exploring asset sales. We have lowered our 2022e EPS by 29% on a more muted view of the current quarter, but raised our 2023e by 7% and 2024e by 16% on a lower share count and higher fuel spreads.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD16.00) - Returning profits to shareholders

Dorian LPG has announced a USD100m share buyback initiative, a clear testament that management deems the current trading range to be on the cautious side. With a one-year forward NAV of USD20/share, we agree, and reiterate our BUY and USD16 target price based on a 15% discount to steel values. The market looks to be facing a seasonal slowdown in the coming months, but we see activity picking up towards the summer.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - One step at a time

We reiterate our BUY and USD17 target price; we believe the company is taking the right steps to crystallise shareholder value through dividends, share buybacks and exploring asset sales. We have lowered our 2022e EPS by 29% on a more muted view of the current quarter, but raised our 2023e by 7% and 2024e by 16% on a lower share count and higher fuel spreads.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD16.00) - Returning profits to shareholders

Dorian LPG has announced a USD100m share buyback initiative, a clear testament that management deems the current trading range to be on the cautious side. With a one-year forward NAV of USD20/share, we agree, and reiterate our BUY and USD16 target price based on a 15% discount to steel values. The market looks to be facing a seasonal slowdown in the coming months, but we see activity picking up towards the summer.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - One step at a time

We reiterate our BUY and USD17 target price; we believe the company is taking the right steps to crystallise shareholder value through dividends, share buybacks and exploring asset sales. We have lowered our 2022e EPS by 29% on a more muted view of the current quarter, but raised our 2023e by 7% and 2024e by 16% on a lower share count and higher fuel spreads.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD16.00) - Returning profits to shareholders

Dorian LPG has announced a USD100m share buyback initiative, a clear testament that management deems the current trading range to be on the cautious side. With a one-year forward NAV of USD20/share, we agree, and reiterate our BUY and USD16 target price based on a 15% discount to steel values. The market looks to be facing a seasonal slowdown in the coming months, but we see activity picking up towards the summer.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - One step at a time

We reiterate our BUY and USD17 target price; we believe the company is taking the right steps to crystallise shareholder value through dividends, share buybacks and exploring asset sales. We have lowered our 2022e EPS by 29% on a more muted view of the current quarter, but raised our 2023e by 7% and 2024e by 16% on a lower share count and higher fuel spreads.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Mats Bye
  • Mats Bye
LPG DORIAN LPG (Industrial Goods & Services)

Dorian LPG (Buy, TP: USD16.00) - Returning profits to shareholders

Dorian LPG has announced a USD100m share buyback initiative, a clear testament that management deems the current trading range to be on the cautious side. With a one-year forward NAV of USD20/share, we agree, and reiterate our BUY and USD16 target price based on a 15% discount to steel values. The market looks to be facing a seasonal slowdown in the coming months, but we see activity picking up towards the summer.

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