Navigator (NYSE:NVGS) Posts Earnings Results, Beats Expectations By $0.32 EPS

Navigator (NYSE:NVGS) issued its quarterly earnings results on Tuesday. The shipping company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.53 by $0.32, Zacks reports. Navigator had a return on equity of 7.01% and a net margin of 18.84%.The firm had revenue of $167.94 million during the quarter, compared to analysts’ expectations of $139.46 million.

Navigator Trading Down 1.9%

Shares of NVGS stock traded down $0.40 during trading on Wednesday, hitting $21.01. 116,304 shares of the stock traded hands, compared to its average volume of 416,412. Navigator has a 52-week low of $14.08 and a 52-week high of $24.36. The firm has a market capitalization of $1.30 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. The firm’s fifty day moving average price is $21.32 and its 200-day moving average price is $20.58. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.16 and a quick ratio of 1.10.

Navigator Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Navigator’s payout ratio is presently 17.18%.

Wall Street Analyst Weigh In

NVGS has been the subject of a number of research reports. Zacks Research raised shares of Navigator from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Citigroup boosted their price target on shares of Navigator from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Navigator from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $23.33.

Insider Activity at Navigator

In other news, insider Oeyvind Lindeman sold 6,259 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $21.70, for a total transaction of $135,820.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Schroder sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $23.63, for a total transaction of $590,750.00. Following the completion of the sale, the chief operating officer owned 5,000 shares in the company, valued at approximately $118,150. This trade represents a 83.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Investors Weigh In On Navigator

A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of Navigator by 16.4% in the 1st quarter. Millennium Management LLC now owns 542,756 shares of the shipping company’s stock worth $7,224,000 after acquiring an additional 76,287 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Navigator by 29.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 507,779 shares of the shipping company’s stock valued at $8,795,000 after purchasing an additional 114,532 shares during the period. State Street Corp lifted its stake in Navigator by 2.4% during the fourth quarter. State Street Corp now owns 461,641 shares of the shipping company’s stock worth $7,996,000 after purchasing an additional 10,716 shares in the last quarter. Geode Capital Management LLC purchased a new position in shares of Navigator during the second quarter worth $5,677,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Navigator during the second quarter worth $4,773,000. 18.95% of the stock is currently owned by institutional investors and hedge funds.

About Navigator

Navigator Holdings Ltd. is a global shipping company specializing in the seaborne transportation of liquefied gases. The company’s fleet is purpose-built to carry a range of petrochemical gases, including liquefied petroleum gas (LPG), ethylene, propylene and ammonia. Navigator’s vessels are designed to meet the stringent safety and environmental standards required for handling pressurized and refrigerated gases, offering flexible capacity to customers across the energy and chemical sectors.

Navigator operates one of the largest and most modern fleets of gas carriers in the industry, with vessels ranging from fully pressurized gas carriers to specialized very large ethane carriers (VLECs).