TORM (NASDAQ:TRMD) PT Raised to $48.00 at Evercore ISI

TORM (NASDAQ:TRMD) had its price target lifted by Evercore ISI from $45.00 to $48.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

TORM Stock Performance

Shares of TRMD stock opened at $37.50 on Tuesday. The company has a market capitalization of $3.13 billion, a P/E ratio of 4.73 and a beta of 0.27. The business’s 50 day moving average is $37.37 and its two-hundred day moving average is $35.46. The company has a current ratio of 2.60, a quick ratio of 2.37 and a debt-to-equity ratio of 0.53. TORM has a 12-month low of $22.80 and a 12-month high of $40.47.

TORM (NASDAQ:TRMD) last released its earnings results on Wednesday, May 8th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.13). TORM had a net margin of 44.74% and a return on equity of 39.79%. The firm had revenue of $444.10 million during the quarter, compared to analysts’ expectations of $332.61 million. Analysts expect that TORM will post 7.36 EPS for the current fiscal year.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $1.50 per share. This is a boost from TORM’s previous quarterly dividend of $1.36. The ex-dividend date was Tuesday, May 21st. This represents a $6.00 annualized dividend and a yield of 16.00%. TORM’s dividend payout ratio (DPR) is 55.30%.

Institutional Investors Weigh In On TORM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMD. Creekmur Asset Management LLC acquired a new stake in TORM during the fourth quarter worth $27,000. PSI Advisors LLC acquired a new stake in shares of TORM in the fourth quarter valued at $30,000. Scarborough Advisors LLC acquired a new stake in shares of TORM in the fourth quarter valued at $37,000. Fifth Third Bancorp acquired a new stake in shares of TORM in the second quarter valued at $43,000. Finally, Syquant Capital Sas acquired a new stake in shares of TORM in the second quarter valued at $46,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

About TORM

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.