TORM (NASDAQ:TRMD) Trading Up 0% - Should You Buy?

TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price was up 0% on Friday . The company traded as high as $30.11 and last traded at $29.91. Approximately 139,435 shares changed hands during trading, a decline of 81% from the average daily volume of 719,053 shares. The stock had previously closed at $29.90.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TRMD shares. Evercore ISI increased their price target on shares of TORM from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. Fearnley Fonds raised shares of TORM to a "hold" rating in a research report on Friday, September 27th.

TORM Stock Up 0.4 %

The firm's 50-day moving average price is $34.75 and its 200-day moving average price is $35.87. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 3.79 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD - Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The company had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the prior year, the business earned $2.14 earnings per share. Sell-side analysts forecast 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. Investors of record on Thursday, August 29th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 23.98%. This is a positive change from TORM's previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. TORM's dividend payout ratio (DPR) is presently 66.29%.

Institutional Investors Weigh In On TORM

Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in TORM during the 2nd quarter valued at $26,000. Fifth Third Bancorp bought a new position in TORM during the 2nd quarter valued at $43,000. Syquant Capital Sas bought a new position in TORM during the 2nd quarter valued at $46,000. Headlands Technologies LLC bought a new position in TORM during the 1st quarter valued at $51,000. Finally, Point72 Hong Kong Ltd bought a new position in TORM during the 2nd quarter valued at $78,000. 73.89% of the stock is owned by institutional investors and hedge funds.

TORM Company Profile

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.