In a report issued on September 21, Victoria Saraglis from Drewry Financial maintained a Hold rating on Navigator Holdings (NYSE: NVGS), with a price target of $13.30. The company’s shares closed on Friday at $12.15.
Saraglis noted:
“We have retained our fair value of USD 13.3 per share and Neutral stock rating, considering the stable freight rates in the third quarter of 2018. Our fair value is based on the company’s NAV, wherein we have assigned a probability of success of 40% to the ethylene terminal, in light of the provision of estimated capital contribution of USD 155m and affirmation on the source of financing for this contribution. The key risk in the short term revolves around the persisting oversupply in the Handysize segment.”
According to TipRanks.com, Saraglis is a 1-star analyst with an average return of -3.9% and a 40.0% success rate. Saraglis covers the Services sector, focusing on stocks such as Golden Ocean Group Limited, Star Bulk Carriers, and Scorpio Bulkers.
Navigator Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $14.65.
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Based on Navigator Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.16 million. In comparison, last year the company had a net profit of $2.25 million.
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Navigator Holdings Ltd. owns and operates a fleet of handysize liquefied gas carriers. It also provides international seaborne transportation and regional distribution services of liquefied petroleum gas, petrochemical gases and ammonia for energy companies, industrial users and commodity traders.
