Zacks Investment Research upgraded shares of DHT (NYSE:DHT) from a sell rating to a hold rating in a research report sent to investors on Thursday, November 16th.
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. “
Several other brokerages have also recently issued reports on DHT. Jefferies Group reissued a buy rating on shares of DHT in a research note on Thursday, October 19th. BidaskClub cut DHT from a hold rating to a sell rating in a research report on Tuesday, July 25th. Maxim Group set a $7.00 target price on DHT and gave the company a buy rating in a research report on Thursday, August 3rd. Stifel Nicolaus set a $5.00 target price on DHT and gave the company a hold rating in a research report on Sunday, October 29th. Finally, ValuEngine raised DHT from a hold rating to a buy rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $6.00.
DHT (NYSE:DHT) traded down $0.10 on Thursday, hitting $3.69. The stock had a trading volume of 471,143 shares, compared to its average volume of 1,068,355. DHT has a 1 year low of $3.51 and a 1 year high of $5.20. The company has a market capitalization of $525.26, a PE ratio of 9.24, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.65 and a current ratio of 1.65.
DHT (NYSE:DHT) last announced its quarterly earnings data on Monday, November 13th. The shipping company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. DHT had a return on equity of 4.84% and a net margin of 9.68%. The company had revenue of $54.80 million for the quarter, compared to analysts’ expectations of $50.43 million. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. DHT’s revenue was up 8.9% compared to the same quarter last year. sell-side analysts expect that DHT will post 0.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Tuesday, November 28th will be issued a dividend of $0.02 per share. The ex-dividend date is Monday, November 27th. This represents a $0.08 annualized dividend and a dividend yield of 2.17%. DHT’s dividend payout ratio is presently 25.00%.
Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of DHT by 1.1% during the 1st quarter. Legal & General Group Plc now owns 24,683 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 260 shares during the last quarter. Bank of America Corp DE raised its stake in DHT by 87.1% in the 1st quarter. Bank of America Corp DE now owns 26,646 shares of the shipping company’s stock worth $119,000 after acquiring an additional 12,407 shares during the last quarter. Wellington Management Group LLP purchased a new position in DHT in the 1st quarter worth $146,000. Voya Investment Management LLC raised its stake in DHT by 16.8% in the 2nd quarter. Voya Investment Management LLC now owns 46,770 shares of the shipping company’s stock worth $194,000 after acquiring an additional 6,737 shares during the last quarter. Finally, KCG Holdings Inc. raised its stake in DHT by 270.0% in the 1st quarter. KCG Holdings Inc. now owns 47,542 shares of the shipping company’s stock worth $213,000 after acquiring an additional 34,692 shares during the last quarter. Hedge funds and other institutional investors own 35.73% of the company’s stock.
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DHT Holdings, Inc operates a fleet of crude oil tankers. As of March 21, 2017, the Company’s fleet consisted of 21 crude oil tankers in operation. As of March 21, 2017, the Company’s fleet consisted of 19 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 dwt.
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