DHT (NYSE:DHT) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

DHT (NYSE:DHT - Get Free Report) released its earnings results on Wednesday. The shipping company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.12, Zacks reports. DHT had a return on equity of 17.43% and a net margin of 31.72%.

DHT Stock Performance

DHT stock traded down $0.16 during mid-day trading on Friday, hitting $11.35. 1,762,939 shares of the company were exchanged, compared to its average volume of 2,325,407. DHT has a 1-year low of $8.67 and a 1-year high of $12.80. The stock has a market capitalization of $1.83 billion, a PE ratio of 10.14 and a beta of -0.39. The business has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $10.60. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 5.99%. DHT's dividend payout ratio (DPR) is currently 60.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DHT shares. Stifel Nicolaus lowered their price target on DHT from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of DHT from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Jefferies Financial Group increased their price target on shares of DHT from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday. Kepler Capital Markets lowered shares of DHT from a "buy" rating to a "hold" rating and set a $9.70 price objective on the stock. in a research note on Thursday, December 12th. Finally, BTIG Research assumed coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a "buy" rating and a $16.00 target price for the company. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.54.

DHT Company Profile

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.