DHT (NYSE:DHT) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of DHT (NYSE:DHT) from a hold rating to a sell rating in a research note published on Monday morning.

Separately, Stifel Nicolaus boosted their target price on DHT from $12.00 to $13.00 and gave the stock a hold rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DHT presently has an average rating of Hold and an average target price of $14.67.

DHT Stock Performance

Shares of NYSE DHT opened at $10.63 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.71 billion, a P/E ratio of 10.12 and a beta of -0.36. DHT has a 12 month low of $8.60 and a 12 month high of $12.80. The stock has a 50 day moving average of $11.04 and a 200-day moving average of $11.37.

DHT (NYSE:DHT) last posted its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $103.70 million for the quarter, compared to analyst estimates of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts predict that DHT will post 1.14 EPS for the current year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 10.16%. The ex-dividend date of this dividend was Friday, August 23rd. DHT’s dividend payout ratio is 102.86%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,717 shares in the last quarter. National Bank of Canada FI grew its holdings in DHT by 150.0% in the 4th quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock valued at $50,000 after buying an additional 3,000 shares in the last quarter. Headlands Technologies LLC acquired a new position in DHT in the 1st quarter valued at $51,000. Summit Securities Group LLC acquired a new position in DHT in the 2nd quarter valued at $78,000. Finally, Point72 Hong Kong Ltd acquired a new position in DHT in the 2nd quarter valued at $80,000. 58.53% of the stock is owned by institutional investors and hedge funds.

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.