Torm Plc (NASDAQ:TRMD) Given Average Rating of “Hold” by Brokerages

Torm Plc (NASDAQ:TRMD) has been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $27.50.

Several equities analysts have weighed in on TRMD shares. Fearnley Fonds downgraded shares of Torm from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Pareto Securities downgraded shares of Torm from a “buy” rating to a “hold” rating in a report on Tuesday, August 19th. Evercore ISI set a $23.00 target price on shares of Torm and gave the company an “outperform” rating in a report on Thursday, August 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th.

Torm Stock Performance

Shares of TRMD opened at $21.05 on Tuesday. The company has a 50-day simple moving average of $21.48 and a 200-day simple moving average of $18.90. The company has a quick ratio of 2.30, a current ratio of 2.57 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $1.98 billion, a PE ratio of 6.38 and a beta of 0.08. Torm has a 52-week low of $13.60 and a 52-week high of $27.00.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $208.20 million during the quarter, compared to the consensus estimate of $207.58 million. Torm had a net margin of 24.90% and a return on equity of 15.73%. Equities research analysts predict that Torm will post 6.27 earnings per share for the current fiscal year.

Torm Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 22nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 7.6%. The ex-dividend date was Friday, August 22nd. Torm’s dividend payout ratio (DPR) is 35.45%.

Hedge Funds Weigh In On Torm

Several hedge funds have recently added to or reduced their stakes in TRMD. Tower Research Capital LLC TRC purchased a new position in Torm during the 2nd quarter valued at about $46,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Torm during the first quarter worth about $69,000. CWM LLC grew its holdings in shares of Torm by 1,712.3% during the first quarter. CWM LLC now owns 5,292 shares of the company’s stock worth $87,000 after buying an additional 5,000 shares in the last quarter. Weaver Consulting Group purchased a new stake in shares of Torm during the second quarter worth about $167,000. Finally, Larson Financial Group LLC grew its holdings in shares of Torm by 4,694.8% during the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company’s stock worth $168,000 after buying an additional 10,000 shares in the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Torm Company Profile

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.