DHT (NYSE:DHT) Releases Earnings Results, Beats Estimates By $0.04 EPS

DHT (NYSE:DHT) released its quarterly earnings results on Wednesday. The shipping company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.04, FiscalAI reports. The business had revenue of $254.96 million during the quarter, compared to analyst estimates of $247.17 million. DHT had a return on equity of 40.90% and a net margin of 65.52%.DHT’s revenue for the quarter was up 174.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share.

DHT Trading Up 2.0%

DHT traded up $0.38 on Friday, reaching $18.73. 1,245,078 shares of the company’s stock were exchanged, compared to its average volume of 3,745,431. DHT has a twelve month low of $10.69 and a twelve month high of $20.55. The company’s 50 day moving average is $17.74 and its 200-day moving average is $17.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 6.36 and a beta of -0.11.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 26.1%. The ex-dividend date is Monday, August 17th. This is an increase from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio (DPR) is presently 87.07%.

Hedge Funds Weigh In On DHT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in shares of DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,596 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in DHT during the 3rd quarter valued at about $60,000. Zions Bancorporation National Association UT acquired a new stake in shares of DHT in the fourth quarter valued at approximately $65,000. Xponance LLC bought a new stake in shares of DHT during the fourth quarter valued at approximately $128,000. Finally, Quadrature Capital Ltd acquired a new position in shares of DHT during the fourth quarter worth approximately $135,000. 58.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DHT has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Evercore cut shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price for the company. in a research note on Wednesday, April 22nd. Finally, BTIG Research raised their price target on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, DHT currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

DHT Company Profile

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.