DHT (NYSE:DHT) Announces Quarterly Earnings Results, Beats Estimates By $0.40 EPS

DHT (NYSE:DHT) issued its quarterly earnings results on Tuesday. The shipping company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.40, Briefing.com reports. The firm had revenue of $157.20 million during the quarter, compared to the consensus estimate of $152.15 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The business’s revenue was up 134.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS.

DHT Trading Up 2.7%

Shares of DHT stock opened at $19.09 on Wednesday. DHT has a 52-week low of $10.61 and a 52-week high of $20.55. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 14.57 and a beta of -0.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80. The firm has a fifty day moving average of $18.12 and a 200-day moving average of $15.01.

Wall Street Analyst Weigh In

DHT has been the topic of several research reports. Evercore downgraded shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective on the stock. in a report on Wednesday, April 22nd. Wall Street Zen raised DHT from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Dnb Carnegie lowered DHT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. BTIG Research upped their price target on DHT from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research report on Monday, April 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Institutional Trading of DHT

Several institutional investors have recently made changes to their positions in DHT. AQR Capital Management LLC raised its position in DHT by 178.9% in the first quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock worth $741,000 after purchasing an additional 45,275 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in DHT during the second quarter worth about $171,000. Creative Planning boosted its holdings in DHT by 34.1% during the second quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock valued at $164,000 after purchasing an additional 3,859 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in DHT by 11.3% during the second quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock valued at $4,325,000 after purchasing an additional 40,574 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of DHT in the 2nd quarter valued at approximately $162,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.