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StealthGas, Inc. (GASS)

  • Sep. 16, 2014, 3:57 PM
    • Ocean shipping of dry bulk commodities and oil will nearly double earnings capacity during the next several years while the smaller container ship industry will tread water, Deutsche Bank says.
    • The firm believes the industry is "on the cusp of entering a new era of prosperity," driven by improved supply/demand dynamics, increased fleet utilization and abundant capital to fund profitable growth.
    • On average, DB forecasts a near doubling of earnings power across its coverage universe by 2016 vs. 2013, led by shippers in the Dry Bulk and Oil trades.
    • Initiated with Buy ratings: TNK +9.8%, CPLP +2.5%, DSX +2.8%, DRYS +5.5%, DLNG +2.4%, NNA +2.1%, SALT +0.8%, SSW +1.3%, GASS +3.3%.
    • Started at Hold: TK +1.2%, NMM +0.3%, FRO +3.3%, TGH -0.6%.
  • Aug. 28, 2014, 9:13 AM
    • StealthGas (NASDAQ:GASS) -6.9% premarket after Q2 earnings fall well short of analyst expectations; revenues rose 5.3% Y/Y primarily due to a higher number of vessels owned during the period.
    • Says Q2 was challenging due to seasonality as well as terminal maintenance, but secured long-term charters for three newbuilding vessels, extending to 2022; says demand for modern vessels is healthy while the overall market remains stable.
    • Says it will take a few quarters to see the effects of fleet growth, but GASS has made significant commitments to increase fleet size to 61 vessels from 44 at a cost of nearly $400M, most to be delivered by Q3 2015.
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  • Dec. 11, 2013, 10:41 AM
    • Stealthgas (GASS +4.9%) decides not to proceed with its previously announced 10M-share public offering of common stock at this time, saying it is not in the best interests of shareholders.
    | 1 Comment
  • Dec. 10, 2013, 12:45 PM
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  • Dec. 9, 2013, 4:48 PM
    • StealthGas (GASS) -4.2% AH after announcing a public offering of 10M common shares.
    • GASS intends to use the proceeds for vessel acquisitions, capital expenditures and other general corporate purposes.
    | Comment!
  • Aug. 21, 2013, 9:42 AM
    • Jefferies cuts its earnings estimates and price target to $14 from $16 for StealthGas (GASS +1.7%) but maintains a Buy rating following Q2 earnings that fell far short of estimates.
    • The miss was due mostly to weaker than expected average TCE charter earned during the quarter of $7,391/day vs. expectations of $8,351/day but all other line items were in-line, the firm says.
    • Shares are bouncing back a bit in early trading after yesterday's near-10% drubbing.
    | Comment!
  • Aug. 20, 2013, 3:36 PM
    • "In general I am not happy with the quarter," StealthGas (GASS -9.5%) CEO Harry Vafias says, regarding what looks like a rather large bottom line Q2 miss.
    • Shares are off sharply following the report, which showed revenues rose 4.1% Y/Y for the quarter.
    • Net income fell 29%.
    • Vafias notes that in July the company did manage to secure "long term charters for three ... vessels that had come off charter." (PR)
  • May 30, 2013, 2:28 PM
    StealthGas (GASS +3.6%) is initiated with a Buy rating and $14 price target at Deutsche Bank, which likes GASS' niche in the Handysize liquefied petroleum gas market as one of the few sectors of shipping with strong demand fundamentals and modest fleet expansion. Demand will be driven primarily by increased LPG exports in the Middle East and oncoming U.S. exports.
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  • Apr. 23, 2013, 12:56 PM
    Midday top 10 gainers: SCON +118%. MEMS +49%. CZR +29%. NFLX +24%. ARL +18%. CPLA +18%. VECO +17%. HSTM +17%. SANM +16%. ILMN +15%.
    Midday top 10 losers: CPRX -15%. IIVI -13%. UNTK -13%. ABIO -13%. CASM -10%. EFUT -9%. GASS -9%. TAX -8%. SIFY -7%. USTR -7%.
    | Comment!
  • Dec. 18, 2012, 12:40 PM
    StealthGas (GASS +4%) is initiated with a Buy rating and $10 price target at Global Hunter, which likes GASS' niche as an operator of small liquid petroleum gas vessels, which the firm thinks has an attractive supply/demand outlook. GASS' higher charter coverage and strong balance sheet should support continued fleet growth and modernization, the firm says.
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Company Description
StealthGas Inc through its subsidiaries owns a fleet of LPG carriers that providesseaborne transportation services to LPG producers and users, as well as crude oil and product carriers chartered to oil producers, refiners and commodities traders.
Sector: Services
Industry: Shipping
Country: United States