DHT Holdings, Inc. (NYSE:DHT) Plans $0.17 Quarterly Dividend

DHT Holdings, Inc. (NYSE:DHT) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.17 per share by the shipping company on Tuesday, February 25th. This represents a $0.68 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend is Tuesday, February 18th.

DHT has raised its dividend by an average of 97.4% per year over the last three years. DHT has a dividend payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect DHT to earn $0.93 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 94.6%.

DHT Stock Performance

NYSE:DHT traded down $0.31 during midday trading on Thursday, reaching $11.50. The stock had a trading volume of 3,767,165 shares, compared to its average volume of 2,301,227. The stock has a market capitalization of $1.85 billion, a P/E ratio of 11.50 and a beta of -0.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. DHT has a 1-year low of $8.67 and a 1-year high of $12.80. The firm’s fifty day simple moving average is $10.03 and its 200-day simple moving average is $10.61.

DHT (NYSE:DHT) last announced its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.12. DHT had a net margin of 27.72% and a return on equity of 15.58%. On average, equities research analysts forecast that DHT will post 1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DHT has been the topic of several recent research reports. Kepler Capital Markets lowered shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price on the stock. in a research report on Thursday, December 12th. Jefferies Financial Group boosted their target price on DHT from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday. BTIG Research assumed coverage on DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target for the company. Stifel Nicolaus decreased their target price on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com raised shares of DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.54.

About DHT

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.