DHT (NYSE:DHT) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

DHT (NYSE:DHT) announced its earnings results on Wednesday. The shipping company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12, Zacks reports. DHT had a return on equity of 15.58% and a net margin of 27.72%.

DHT Stock Down 0.5 %

NYSE:DHT traded down $0.06 during trading hours on Wednesday, hitting $11.80. The company’s stock had a trading volume of 2,644,791 shares, compared to its average volume of 2,237,419. DHT has a 52-week low of $8.67 and a 52-week high of $12.80. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.90 billion, a P/E ratio of 11.80 and a beta of -0.39. The stock has a fifty day moving average of $9.99 and a 200-day moving average of $10.60.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were given a dividend of $0.22 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 7.46%. DHT’s dividend payout ratio (DPR) is currently 88.00%.

Analyst Ratings Changes

Several research firms recently issued reports on DHT. Stifel Nicolaus cut their price objective on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 price target on the stock. in a research report on Thursday, December 12th. BTIG Research assumed coverage on shares of DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and an average target price of $13.54.

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.