DHT (NYSE:DHT) Releases Earnings Results, Beats Estimates By $0.15 EPS

DHT (NYSE:DHT) released its earnings results on Monday. The shipping company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.15, FiscalAI reports. The firm had revenue of $290.34 million during the quarter, compared to the consensus estimate of $265.35 million. DHT had a net margin of 65.52% and a return on equity of 39.40%.

DHT Price Performance

DHT opened at $20.55 on Tuesday. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 7.55 and a beta of -0.03. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $22.83 and a 200-day moving average price of $18.93. DHT has a twelve month low of $11.64 and a twelve month high of $26.91.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be paid a $1.45 dividend. The ex-dividend date is Monday, November 23rd. This is a positive change from DHT’s previous quarterly dividend of $1.22. This represents a $5.80 annualized dividend and a dividend yield of 28.2%. DHT’s dividend payout ratio is 165.99%.

Wall Street Analyst Weigh In

DHT has been the topic of several research analyst reports. Evercore set a $26.00 price objective on DHT in a research note on Tuesday, October 27th. Weiss Ratings raised DHT from a “buy (b+)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Finally, BTIG Research raised their target price on DHT from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DHT presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Insider Buying and Selling

In related news, Director Svenn Edvardsen sold 341,007 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the sale, the director directly owned 395,705 shares in the company, valued at approximately $8,028,854.45. This represents a 46.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Erik Lind sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $22.46, for a total transaction of $673,800.00. Following the sale, the director owned 132,294 shares in the company, valued at $2,971,323.24. The trade was a 18.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 554,007 shares of company stock valued at $11,287,402.

DHT News Summary

Here are the key news stories impacting DHT this week:

• Positive Sentiment: DHT earned $1.45 per share, ahead of the $1.26 consensus estimate, and reported revenue of $290.34 million versus expectations of $258.12 million. Net income was $270.9 million. The substantial beat may bolster expectations for the tanker operator’s earnings and cash generation. DHT Q3 Earnings, Revenue Rise
• Positive Sentiment: The company declared a $1.45 dividend, providing a sizable shareholder distribution alongside its strong quarterly profit. DHT Holdings Reports Q3 Profit and Declares Dividend
• Neutral Sentiment: DHT increased its newbuilding tally, pointing to plans to expand or renew its fleet. This could support future capacity, while also requiring investment and exposing the company to vessel-delivery and market-cycle risks. DHT Holdings Ups Newbuilding Tally as It Tops Analysts’ Earnings Bets

DHT Company Profile