Jefferies Financial Group Cuts Hafnia (NYSE:HAFN) Price Target to $8.00

Hafnia (NYSE:HAFN) had its target price cut by Jefferies Financial Group from $9.00 to $8.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Hafnia Trading Down 2.6 %

HAFN opened at $5.27 on Thursday. The stock has a market cap of $2.67 billion and a PE ratio of 3.36. The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. Hafnia has a twelve month low of $5.13 and a twelve month high of $8.99. The company has a fifty day moving average of $6.67 and a 200-day moving average of $7.53.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. The firm had revenue of $417.36 million during the quarter, compared to analyst estimates of $387.14 million. On average, sell-side analysts predict that Hafnia will post 1.44 EPS for the current year.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.4049 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.62 annualized dividend and a dividend yield of 30.73%. This is a positive change from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s payout ratio is currently 103.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mondrian Investment Partners LTD bought a new position in shares of Hafnia during the 2nd quarter worth about $43,000. Allspring Global Investments Holdings LLC acquired a new stake in Hafnia in the second quarter valued at approximately $60,000. Prudential PLC bought a new stake in shares of Hafnia during the second quarter valued at approximately $100,000. Infrastructure Capital Advisors LLC acquired a new position in shares of Hafnia during the third quarter worth approximately $119,000. Finally, TD Asset Management Inc bought a new position in shares of Hafnia in the 2nd quarter worth $148,000.

About Hafnia

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.