TORM plc (NASDAQ:TRMD) Plans $0.40 Dividend

TORM plc (NASDAQ:TRMD) declared a dividend on Thursday, May 8th, NASDAQ Dividends reports. Stockholders of record on Thursday, May 22nd will be given a dividend of 0.40 per share on Wednesday, June 4th. The ex-dividend date of this dividend is Thursday, May 22nd.

TORM has a dividend payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TORM to earn $3.58 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 44.7%.

TORM Stock Performance

TRMD stock opened at $18.10 on Tuesday. The firm has a market cap of $1.70 billion, a PE ratio of 2.34 and a beta of 0.12. 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 has a 50 day moving average of $16.64 and a 200-day moving average of $19.04. TORM has a 12-month low of $13.60 and a 12-month high of $40.47.

TORM (NASDAQ:TRMD) last released its earnings results on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.02). The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $244.25 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. As a group, sell-side analysts expect that TORM will post 6.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Kepler Capital Markets lowered TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th. Evercore ISI reduced their price objective on TORM from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Pareto Securities raised TORM from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Finally, Fearnley Fonds raised TORM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TORM currently has an average rating of “Moderate Buy” and a consensus price target of $27.50.

Hedge Funds Weigh In On TORM

A hedge fund recently raised its stake in TORM stock. NewEdge Advisors LLC raised its position in shares of TORM plc (NASDAQ:TRMD) by 39.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,740 shares of the company’s stock after purchasing an additional 4,776 shares during the period. NewEdge Advisors LLC’s holdings in TORM were worth $276,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 73.89% of the company’s stock.

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.