TORM plc (NASDAQ:TRMD - Get Free Report) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be given a dividend of 0.60 per share on Wednesday, April 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 12.59%. The ex-dividend date of this dividend is Thursday, March 20th.
TORM has a dividend payout ratio of 137.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect TORM to earn $3.58 per share next year, which means the company may not be able to cover its $4.80 annual dividend with an expected future payout ratio of 134.1%.
TORM Stock Performance
TORM stock traded down $0.33 during midday trading on Friday, reaching $19.06. 1,137,163 shares of the stock traded hands, compared to its average volume of 1,179,459. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $19.80 and a two-hundred day moving average price of $24.93. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 2.47 and a beta of 0.14. TORM has a fifty-two week low of $16.76 and a fifty-two week high of $40.47.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group reduced their price target on shares of TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, November 14th.
Read Our Latest Stock Report on TRMD
TORM Company Profile
(
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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.
Further Reading
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