DHT Holdings, Inc. (DHT) To Go Ex-Dividend on August 17th

DHT Holdings, Inc. (NYSE:DHT) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Monday, August 17th will be given a dividend of 1.22 per share by the shipping company on Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 25.0%. The ex-dividend date of this dividend is Monday, August 17th. This is a 90.6% increase from DHT’s previous quarterly dividend of $0.64.

DHT has decreased its dividend payment by an average of 0.1%per year over the last three years. DHT has a dividend payout ratio of 316.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

DHT Trading Up 1.6%

Shares of DHT opened at $19.50 on Friday. DHT has a 12-month low of $10.69 and a 12-month high of $20.55. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 6.63 and a beta of -0.11. The stock’s 50-day moving average price is $18.02 and its 200 day moving average price is $17.56.

DHT (NYSE:DHT) last posted its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. DHT had a return on equity of 39.40% and a net margin of 65.52%.The firm had revenue of $254.96 million during the quarter, compared to analysts’ expectations of $247.17 million. During the same quarter in the prior year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 174.8% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DHT shares. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. BTIG Research lifted their price target on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Finally, Evercore cut shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.33.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.