Zacks Investment Research downgraded shares of DHT (NYSE:DHT) from a hold rating to a sell rating in a report issued on Tuesday morning.
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. “
Other equities analysts have also issued research reports about the company. Wells Fargo & Co reduced their price objective on DHT from $7.00 to $6.00 and set a buy rating on the stock in a research note on Tuesday, August 14th. Maxim Group reissued a buy rating and issued a $6.00 price objective on shares of DHT in a research note on Thursday, August 9th. Morgan Stanley boosted their price objective on DHT from $5.00 to $6.00 and gave the stock a buy rating in a research note on Wednesday, July 18th. ValuEngine raised DHT from a hold rating to a buy rating in a research note on Saturday, October 6th. Finally, Pareto Securities lowered DHT from a buy rating to a hold rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $5.46.
Shares of NYSE:DHT opened at $4.76 on Tuesday. DHT has a fifty-two week low of $3.27 and a fifty-two week high of $5.07. The firm has a market capitalization of $674.79 million, a price-to-earnings ratio of 36.62 and a beta of 0.51. The company has a current ratio of 1.64, a quick ratio of 1.33 and a debt-to-equity ratio of 0.91.
DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, August 7th. The shipping company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). DHT had a negative return on equity of 5.01% and a negative net margin of 15.45%. The firm had revenue of $34.44 million for the quarter, compared to analysts’ expectations of $36.20 million. As a group, research analysts predict that DHT will post -0.36 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in DHT in the second quarter valued at about $105,000. Odey Asset Management Group Ltd acquired a new position in DHT in the second quarter valued at about $350,000. DNB Asset Management AS acquired a new position in DHT in the third quarter valued at about $584,000. FMR LLC acquired a new position in DHT in the second quarter valued at about $1,197,000. Finally, Bienville Capital Management LLC lifted its stake in DHT by 666.4% in the second quarter. Bienville Capital Management LLC now owns 315,314 shares of the shipping company’s stock valued at $1,479,000 after buying an additional 274,171 shares during the period. 39.91% of the stock is currently owned by hedge funds and other institutional investors.
DHT Company Profile
DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of February 6, 2018, it had a fleet of 27 very large crude carriers and 2 Aframaxes with deadweight tons of 8,590,740. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.
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