DHT (NYSE:DHT - Get Free Report) posted its earnings results on Tuesday. The shipping company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.02, Briefing.com reports. The company had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.57%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS.
DHT Stock Performance
Shares of NYSE:DHT traded up $0.56 during midday trading on Wednesday, reaching $10.71. The company had a trading volume of 2,508,752 shares, compared to its average volume of 1,829,385. The stock has a market cap of $1.73 billion, a P/E ratio of 10.71 and a beta of -0.36. The company's 50 day moving average price is $10.90 and its 200 day moving average price is $11.28. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. DHT has a 52-week low of $9.28 and a 52-week high of $12.80.
DHT Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date is Friday, November 22nd. DHT's payout ratio is 108.00%.
Wall Street Analyst Weigh In
DHT has been the subject of several analyst reports. StockNews.com downgraded DHT from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Jefferies Financial Group restated a "buy" rating and set a $14.00 price objective on shares of DHT in a research note on Wednesday. Fearnley Fonds raised shares of DHT to a "strong-buy" rating in a report on Friday, September 27th. Stifel Nicolaus lowered their target price on shares of DHT from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, October 23rd. Finally, BTIG Research began coverage on shares of DHT in a research report on Tuesday, October 15th. They set a "buy" rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.
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DHT Company Profile
(
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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.
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