TORM plc (NASDAQ:TRMD - Get Free Report)'s share price was down 0.9% during trading on Wednesday . The stock traded as low as $25.47 and last traded at $26.06. Approximately 499,491 shares traded hands during trading, a decline of 32% from the average daily volume of 736,640 shares. The stock had previously closed at $26.30.
Wall Street Analysts Forecast Growth
TRMD has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on shares of TORM from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a research note on Friday, September 27th.
Check Out Our Latest Stock Report on TRMD
TORM Stock Performance
The stock has a fifty day moving average price of $32.99 and a two-hundred day moving average price of $35.40. The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 3.35 and a beta of 0.24.
TORM (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the firm earned $2.14 earnings per share. As a group, analysts forecast that TORM plc will post 7.12 EPS for the current fiscal year.
TORM Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were issued a $1.80 dividend. The ex-dividend date was Thursday, August 29th. This is an increase from TORM's previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a yield of 27.59%. TORM's dividend payout ratio is 67.31%.
Institutional Trading of TORM
Several large investors have recently made changes to their positions in the business. National Bank of Canada FI bought a new position in shares of TORM in the 2nd quarter valued at $26,000. Fifth Third Bancorp purchased a new stake in shares of TORM in the second quarter worth approximately $43,000. Syquant Capital Sas purchased a new position in TORM during the second quarter worth about $46,000. Headlands Technologies LLC bought a new position in TORM in the 1st quarter valued at $51,000. Finally, Point72 Hong Kong Ltd purchased a new position in TORM in the second quarter valued at approximately $78,000. 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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