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

DHT (NYSE:DHT) posted its earnings results on Tuesday. The shipping company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02, Briefing.com reports. DHT had a return on equity of 15.58% and a net margin of 27.72%. The business had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis.

DHT Price Performance

Shares of DHT stock opened at $10.80 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 2.33. DHT has a one year low of $9.28 and a one year high of $12.80. The business’s 50 day simple moving average is $10.92 and its two-hundred day simple moving average is $11.28. The stock has a market capitalization of $1.74 billion, a P/E ratio of 10.80 and a beta of -0.36.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 8.15%. The ex-dividend date of this dividend is Friday, November 22nd. DHT’s dividend payout ratio is presently 108.00%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DHT. BTIG Research initiated coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. StockNews.com raised shares of DHT from a “sell” rating to a “hold” rating in a report on Thursday. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus cut their price objective on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, DHT has an average rating of “Moderate Buy” and an average target price of $14.50.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.