Navigator (NYSE:NVGS) Shares Gap Down After Earnings Miss

Navigator Holdings Ltd. (NYSE:NVGS) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $15.99, but opened at $15.25. Navigator shares last traded at $15.77, with a volume of 123,075 shares.

The shipping company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.22). The business had revenue of $129.64 million during the quarter, compared to the consensus estimate of $126.73 million. Navigator had a net margin of 15.57% and a return on equity of 6.57%.

Navigator Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Thursday, August 28th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, August 28th. Navigator’s dividend payout ratio is 15.63%.

Analyst Ratings Changes

A number of brokerages have issued reports on NVGS. Jefferies Financial Group restated a “buy” rating and issued a $19.00 price objective on shares of Navigator in a research note on Wednesday. Wall Street Zen downgraded Navigator from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in Navigator by 1.4% in the 2nd quarter. Invesco Ltd. now owns 132,508 shares of the shipping company’s stock worth $1,875,000 after purchasing an additional 1,892 shares during the period. Estabrook Capital Management boosted its stake in Navigator by 13.7% in the 2nd quarter. Estabrook Capital Management now owns 149,658 shares of the shipping company’s stock worth $2,118,000 after purchasing an additional 18,090 shares during the period. New York State Common Retirement Fund boosted its stake in Navigator by 12.1% in the 2nd quarter. New York State Common Retirement Fund now owns 95,692 shares of the shipping company’s stock worth $1,354,000 after purchasing an additional 10,300 shares during the period. Aristides Capital LLC boosted its stake in Navigator by 21.3% in the 2nd quarter. Aristides Capital LLC now owns 17,708 shares of the shipping company’s stock worth $251,000 after purchasing an additional 3,110 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in Navigator in the 2nd quarter worth about $47,000. Institutional investors own 18.95% of the company’s stock.

Navigator Trading Down 1.5%

The firm has a 50 day simple moving average of $15.23 and a 200 day simple moving average of $14.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.10. The firm has a market cap of $1.09 billion, a P/E ratio of 12.40 and a beta of 0.74.

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.