Jefferies Financial Group Lowers TORM (NASDAQ:TRMD) Price Target to $32.00

TORM (NASDAQ:TRMD) had its price objective reduced by Jefferies Financial Group from $37.00 to $32.00 in a report issued on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other analysts also recently issued reports on TRMD. Fearnley Fonds raised shares of TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI lifted their price objective on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

TORM Stock Performance

NASDAQ TRMD opened at $22.85 on Thursday. The company has a fifty day simple moving average of $30.20 and a 200 day simple moving average of $34.64. TORM has a 12-month low of $22.72 and a 12-month high of $40.47. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.

TORM (NASDAQ:TRMD) last posted its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 34.45%. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. During the same quarter last year, the firm posted $2.14 EPS. As a group, sell-side analysts expect that TORM will post 6.41 earnings per share for the current fiscal year.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a yield of 15.33%. The ex-dividend date is Thursday, November 21st. TORM’s dividend payout ratio is 68.05%.

Hedge Funds Weigh In On TORM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its holdings in shares of TORM by 1,166.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock worth $1,289,000 after buying an additional 35,000 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of TORM in the 3rd quarter worth about $7,359,000. SG Americas Securities LLC boosted its holdings in shares of TORM by 597.3% in the 2nd quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock worth $888,000 after buying an additional 19,628 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of TORM in the 1st quarter worth about $1,229,000. Finally, Lighthouse Investment Partners LLC boosted its holdings in shares of TORM by 276.2% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock worth $4,267,000 after buying an additional 80,793 shares during the last quarter. 73.89% of the stock is owned by hedge funds and other institutional investors.

About TORM

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.