DHT (NYSE:DHT) Trading Down 3.7% Following Analyst Downgrade

DHT Holdings, Inc. (NYSE:DHT) traded down 3.7% during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $13.00 to $11.00. Stifel Nicolaus currently has a hold rating on the stock. DHT traded as low as $10.36 and last traded at $10.47. 597,248 shares traded hands during trading, a decline of 68% from the average session volume of 1,842,532 shares. The stock had previously closed at $10.87.

A number of other brokerages have also issued reports on DHT. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. BTIG Research assumed coverage on shares of DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price objective for the company. Finally, StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, DHT currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in shares of DHT by 8.7% in the first quarter. Russell Investments Group Ltd. now owns 619,634 shares of the shipping company’s stock valued at $7,126,000 after purchasing an additional 49,657 shares in the last quarter. Boston Partners grew its holdings in shares of DHT by 74.6% in the first quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock valued at $1,880,000 after purchasing an additional 69,838 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of DHT in the first quarter valued at $1,602,000. M&G Plc purchased a new position in shares of DHT in the first quarter valued at $16,417,000. Finally, Vanguard Group Inc. grew its holdings in shares of DHT by 15.2% in the first quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock valued at $11,478,000 after purchasing an additional 132,039 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Stock Performance

The business’s fifty day moving average is $11.03 and its two-hundred day moving average is $11.37. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.70 billion, a PE ratio of 10.01 and a beta of -0.36.

DHT (NYSE:DHT) last posted its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $103.70 million for the quarter, compared to analysts’ expectations of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that DHT Holdings, Inc. will post 1.14 EPS for the current fiscal 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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 10.28%. The ex-dividend date was Friday, August 23rd. DHT’s payout ratio is 102.86%.

About DHT

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.