DHT (NYSE:DHT) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

DHT (NYSE:DHT) issued its quarterly earnings results on Wednesday. The shipping company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04, FiscalAI reports. DHT had a net margin of 58.54% and a return on equity of 27.54%. The business had revenue of $254.96 million during the quarter, compared to the consensus estimate of $247.17 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 174.8% on a year-over-year basis.

DHT Stock Performance

Shares of NYSE:DHT opened at $17.94 on Thursday. The firm’s 50 day simple moving average is $17.70 and its 200 day simple moving average is $17.33. DHT has a fifty-two week low of $10.69 and a fifty-two week high of $20.55. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 8.71 and a beta of -0.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DHT shares. Evercore cut DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. BTIG Research increased their price target on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, DHT currently has an average rating of “Moderate Buy” and an average price target of $19.33.

Institutional Trading of DHT

Large investors have recently bought and sold shares of the business. Polymer Capital Management US LLC bought a new stake in shares of DHT in the third quarter worth $154,000. Jain Global LLC bought a new position in DHT in the third quarter valued at $144,000. Algert Global LLC acquired a new stake in DHT in the 3rd quarter valued at $161,000. Vise Technologies Inc. acquired a new stake in DHT in the 3rd quarter valued at $144,000. Finally, Bayesian Capital Management LP bought a new stake in DHT during the 2nd quarter worth about $157,000. 58.53% of the stock is owned by institutional investors.

DHT Company Profile

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.