TORM plc (NASDAQ:TRMD - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $25.83 and last traded at $25.83, with a volume of 31099 shares. The stock had previously closed at $26.30.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Fearnley Fonds raised shares of TORM to a "hold" rating in a report on Friday, September 27th. Evercore ISI raised their price target on shares of TORM from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd.
Read Our Latest Report on TRMD
TORM Trading Down 0.8 %
The stock has a market cap of $2.13 billion, a PE ratio of 3.34 and a beta of 0.24. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $33.23 and a two-hundred day simple moving average of $35.46.
TORM (NASDAQ:TRMD - Get Free Report) last announced its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period in the previous year, the business posted $2.14 earnings per share. As a group, equities analysts expect that TORM plc will post 7.12 earnings per share for the current fiscal year.
TORM Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a dividend of $1.80 per share. The ex-dividend date was Thursday, August 29th. This represents a $7.20 annualized dividend and a yield of 27.59%. This is a positive change from TORM's previous quarterly dividend of $1.50. TORM's payout ratio is 67.31%.
Institutional Trading of TORM
Hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in shares of TORM in the 2nd quarter worth approximately $26,000. Fifth Third Bancorp bought a new stake in TORM in the second quarter worth $43,000. Syquant Capital Sas bought a new stake in TORM in the second quarter worth $46,000. Headlands Technologies LLC bought a new position in shares of TORM during the first quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of TORM in the second quarter worth about $78,000. Hedge funds and other institutional investors own 73.89% of the company's stock.
About TORM
(
Get Free Report)
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.
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