Torm Plc (TRMD) to Issue Quarterly Dividend of $0.70 on June 11th

Torm Plc (NASDAQ:TRMD) declared a quarterly dividend on Wednesday, May 13th. Shareholders of record on Thursday, May 28th will be paid a dividend of 0.70 per share on Thursday, June 11th. This represents a c) dividend on an annualized basis and a yield of 8.9%. The ex-dividend date is Thursday, May 28th.

Torm has raised its dividend payment by an average of 0.1%per year over the last three years. Torm has a payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Torm Price Performance

TRMD stock opened at $31.29 on Tuesday. Torm has a 1 year low of $15.79 and a 1 year high of $35.33. The firm has a market cap of $3.19 billion, a P/E ratio of 9.20 and a beta of 0.14. The stock’s 50 day moving average price is $30.02 and its 200 day moving average price is $25.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.15). The company had revenue of $402.00 million during the quarter, compared to analyst estimates of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 15.81%.

Analysts Set New Price Targets

Several equities research analysts have commented on TRMD shares. Pareto Securities lowered shares of Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Torm from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Friday, April 17th. Finally, Evercore set a $35.00 price target on shares of Torm in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

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.