DHT (NYSE:DHT) Releases Earnings Results, Beats Expectations By $0.02 EPS

DHT (NYSE:DHT) released its earnings results on Tuesday. The shipping company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02, FiscalAI reports. DHT had a net margin of 58.54% and a return on equity of 28.33%. The business had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $152.15 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 134.9% on a year-over-year basis.

DHT Trading Up 0.8%

NYSE:DHT traded up $0.14 on Thursday, hitting $19.08. The stock had a trading volume of 1,620,778 shares, compared to its average volume of 4,133,288. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 9.26 and a beta of -0.08. The company has a fifty day moving average price of $18.14 and a two-hundred day moving average price of $15.06. DHT has a 1-year low of $10.61 and a 1-year high of $20.55.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 13.4%. The ex-dividend date is Thursday, May 21st. This is a positive change from DHT’s previous quarterly dividend of $0.41. DHT’s dividend payout ratio (DPR) is presently 79.61%.

Hedge Funds Weigh In On DHT

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in DHT by 91.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 1,596 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in DHT in the 3rd quarter valued at about $60,000. Zions Bancorporation National Association UT acquired a new position in DHT in the 4th quarter valued at about $65,000. Xponance LLC acquired a new position in DHT in the 4th quarter valued at about $128,000. Finally, Quadrature Capital Ltd acquired a new position in DHT in the 4th quarter valued at about $135,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on DHT. Dnb Carnegie cut shares of DHT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research note on Monday, April 20th. Wall Street Zen raised shares of DHT from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. BTIG Research upped their price objective 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. 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 analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.