DHT (NYSE:DHT) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

DHT (NYSE:DHT) posted its quarterly earnings data on Wednesday. The shipping company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12, Zacks reports. DHT had a return on equity of 15.58% and a net margin of 27.72%.

DHT Trading Down 0.5 %

Shares of DHT stock traded down $0.06 during trading on Wednesday, reaching $11.80. The company’s stock had a trading volume of 2,644,791 shares, compared to its average volume of 2,237,419. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 11.80 and a beta of -0.39. The firm’s 50-day moving average is $9.99 and its two-hundred day moving average is $10.60. DHT has a 52-week low of $8.67 and a 52-week high of $12.80. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were issued a $0.22 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.46%. DHT’s payout ratio is 88.00%.

Analyst Ratings Changes

A number of research firms have recently commented on DHT. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus reduced their target price on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. BTIG Research initiated coverage on shares of DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target on the stock. Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective for the company. in a research note on Thursday, December 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 target price on shares of DHT in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.