Zacks Investment Research upgraded shares of DHT (NYSE:DHT) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $6.00 target price on the shipping company’s stock.
According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “
Other research analysts have also recently issued reports about the company. Wells Fargo & Co lowered their price target on DHT from $7.00 to $6.00 and set a buy rating on the stock in a report on Tuesday, August 14th. Maxim Group reissued a buy rating and issued a $6.00 price target on shares of DHT in a report on Thursday, August 9th. Morgan Stanley boosted their price target on DHT from $5.00 to $6.00 and gave the stock a buy rating in a report on Wednesday, July 18th. ValuEngine raised DHT from a hold rating to a buy rating in a report on Saturday, October 6th. Finally, Pareto Securities raised DHT from a hold rating to a buy rating in a report on Thursday, October 25th. Nine analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and an average target price of $6.17.
Shares of DHT stock traded down $0.14 during trading hours on Wednesday, reaching $5.07. 815,052 shares of the company traded hands, compared to its average volume of 1,315,749. DHT has a 12-month low of $3.27 and a 12-month high of $5.60. The company has a quick ratio of 1.33, a current ratio of 1.78 and a debt-to-equity ratio of 1.01. The stock has a market cap of $752.32 million, a P/E ratio of 39.00 and a beta of 0.25.
DHT (NYSE:DHT) last posted its quarterly earnings results on Thursday, November 1st. The shipping company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). DHT had a negative return on equity of 6.95% and a negative net margin of 23.10%. The business had revenue of $48.20 million during the quarter, compared to analysts’ expectations of $50.07 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, equities research analysts expect that DHT will post -0.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 16th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.08 annualized dividend and a dividend yield of 1.58%. DHT’s dividend payout ratio (DPR) is 61.54%.
Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in shares of DHT by 16.1% during the 2nd quarter. Renaissance Technologies LLC now owns 3,034,400 shares of the shipping company’s stock worth $14,231,000 after acquiring an additional 420,500 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of DHT during the 2nd quarter worth approximately $105,000. Bienville Capital Management LLC raised its holdings in shares of DHT by 666.4% during the 2nd quarter. Bienville Capital Management LLC now owns 315,314 shares of the shipping company’s stock worth $1,479,000 after acquiring an additional 274,171 shares in the last quarter. Odey Asset Management Group Ltd purchased a new stake in shares of DHT during the 2nd quarter worth approximately $350,000. Finally, Northern Trust Corp raised its holdings in shares of DHT by 4.1% during the 2nd quarter. Northern Trust Corp now owns 2,783,759 shares of the shipping company’s stock worth $13,056,000 after acquiring an additional 110,645 shares in the last quarter. 40.00% of the stock is currently owned by institutional investors and hedge funds.
DHT Company Profile
DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of February 6, 2018, it had a fleet of 27 very large crude carriers and 2 Aframaxes with deadweight tons of 8,590,740. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.
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