Torm Plc (NASDAQ:TRMD) Receives $34.00 Average PT from Analysts

Shares of Torm Plc (NASDAQ:TRMD) have received a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $34.00.

Several brokerages recently issued reports on TRMD. Wall Street Zen raised shares of Torm from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Evercore reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Torm in a research note on Thursday, February 26th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Torm in the third quarter valued at approximately $35,000. Tower Research Capital LLC TRC bought a new stake in shares of Torm during the second quarter valued at approximately $46,000. Wexford Capital LP acquired a new position in shares of Torm during the third quarter worth approximately $120,000. Hilton Head Capital Partners LLC acquired a new position in shares of Torm during the fourth quarter worth approximately $121,000. Finally, Weaver Consulting Group bought a new position in shares of Torm in the 2nd quarter worth $167,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Torm Price Performance

Shares of TRMD opened at $24.27 on Friday. The firm has a market cap of $2.28 billion, a PE ratio of 8.55 and a beta of -0.01. Torm has a 52-week low of $13.60 and a 52-week high of $31.76. The business’s 50 day moving average price is $25.22 and its two-hundred day moving average price is $22.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.33.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $347.60 million during the quarter, compared to the consensus estimate of $236.21 million. Torm had a net margin of 21.29% and a return on equity of 13.26%. On average, equities analysts anticipate that Torm will post 6.27 EPS for the current year.

Torm Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 12th will be paid a $0.70 dividend. The ex-dividend date is Thursday, March 12th. This represents a $2.80 annualized dividend and a dividend yield of 11.5%. This is a boost from Torm’s previous quarterly dividend of $0.62. Torm’s dividend payout ratio (DPR) is 71.83%.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.