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Investing.com - Freedom Capital Markets reduced its price target on Dorian LPG Ltd. (NYSE:LPG) to $39.00 from $48.00 on Wednesday, while maintaining a Buy rating on the liquefied petroleum gas shipping company. This comes as the stock has taken a significant hit, dropping 10.18% over the past week, according to InvestingPro data.
The price target reduction follows Dorian LPG’s latest earnings report, which showed solid year-over-year and quarter-over-quarter growth in adjusted earnings per share, though results fell short of consensus estimates. Despite this, the company maintains a P/E ratio of 11.9, indicating it’s trading at a reasonable valuation relative to earnings.
Freedom Capital Markets cited adjusted assumptions for forecast Time Charter Equivalent (TCE) rates and lower expected income from time-charter contracts as the primary reasons for the price target reduction.
Despite the lower price target, the research firm maintained its Buy rating, noting that Dorian LPG’s fundamentals remain robust as the company continues to benefit from favorable freight market conditions.
The analyst report highlighted Dorian LPG’s ongoing diversification efforts and its high level of capital return to shareholders through dividends and share repurchases as positive factors supporting the continued Buy recommendation. InvestingPro data confirms the company’s impressive 9.22% dividend yield and strong financial position with a current ratio of 3.32, indicating liquid assets significantly exceed short-term obligations. Discover more insights in Dorian LPG’s comprehensive Pro Research Report, available with an InvestingPro subscription.
In other recent news, Dorian LPG Ltd reported its Q2 2026 earnings, revealing a shortfall in both earnings per share (EPS) and revenue compared to analysts’ expectations. The company announced an EPS of $1.31, which was below the anticipated $1.37. Additionally, Dorian LPG’s revenue reached $124.1 million, missing the forecasted $125.14 million. These developments mark a notable point for investors, given the importance of earnings and revenue figures in evaluating company performance.
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