GasLog Downgraded by Morgan Stanley

Morgan Stanley lowered shares of GasLog (NYSE:GLOG) from an overweight rating to an equal weight rating in a research report released on Tuesday, January 22nd, MarketBeat Ratings reports. Morgan Stanley currently has $20.00 price target on the shipping company’s stock, down from their previous price target of $22.00.

Several other equities analysts have also recently issued reports on GLOG. Zacks Investment Research raised shares of GasLog from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Wednesday, January 16th. ValuEngine cut shares of GasLog from a buy rating to a hold rating in a research note on Tuesday, December 18th. DNB Markets raised shares of GasLog from a hold rating to a buy rating in a research note on Monday, November 26th. TheStreet raised shares of GasLog from a c+ rating to a b rating in a research note on Friday, November 16th. Finally, JPMorgan Chase & Co. raised shares of GasLog from an underweight rating to a neutral rating and set a $20.00 price objective on the stock in a research note on Friday, November 2nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $21.78.

The stock has a market cap of $1.43 billion, a P/E ratio of 1,802.00 and a beta of 1.33. GasLog has a 1-year low of $15.75 and a 1-year high of $23.14. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.50.

GasLog (NYSE:GLOG) last announced its earnings results on Thursday, February 14th. The shipping company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.23. The business had revenue of $188.64 million for the quarter, compared to analysts’ expectations of $176.16 million. GasLog had a net margin of 7.57% and a return on equity of 0.32%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. On average, equities research analysts predict that GasLog will post 0.36 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Monday, March 4th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.60 annualized dividend and a dividend yield of 9.03%.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC purchased a new stake in shares of GasLog in the 4th quarter worth about $31,000. Bessemer Group Inc. purchased a new stake in shares of GasLog in the 4th quarter worth about $37,000. Cohen Capital Management Inc. boosted its position in shares of GasLog by 0.8% in the 4th quarter. Cohen Capital Management Inc. now owns 330,383 shares of the shipping company’s stock worth $5,438,000 after buying an additional 2,500 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of GasLog by 15.7% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 23,870 shares of the shipping company’s stock worth $393,000 after buying an additional 3,233 shares in the last quarter. Finally, Capital Management Associates NY boosted its position in shares of GasLog by 16.7% in the 3rd quarter. Capital Management Associates NY now owns 28,000 shares of the shipping company’s stock worth $553,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 42.97% of the company’s stock.
Source: Zacks