TORM (NASDAQ:TRMD – Get Free Report) released its earnings results on Thursday. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06), Zacks reports. TORM had a net margin of 43.81% and a return on equity of 34.45%.
TORM Stock Up 10.9 %
Shares of NASDAQ:TRMD traded up $1.88 during midday trading on Thursday, hitting $19.23. The stock had a trading volume of 850,706 shares, compared to its average volume of 1,142,280. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $19.81 and its 200-day simple moving average is $25.28. TORM has a 12 month low of $16.76 and a 12 month high of $40.47. The company has a market cap of $1.81 billion, a P/E ratio of 2.49 and a beta of 0.14.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group cut their price objective on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.
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.
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