Torm (NASDAQ:TRMD) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Torm (NASDAQ:TRMD) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts also recently issued reports on TRMD. Weiss Ratings raised shares of Torm from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 11th. Evercore reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Torm in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $38.00.

Torm Trading Up 4.4%

Shares of NASDAQ:TRMD opened at $38.23 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.97 and a debt-to-equity ratio of 0.33. Torm has a 12-month low of $19.30 and a 12-month high of $38.73. The business has a 50 day moving average of $31.53 and a two-hundred day moving average of $30.11. The company has a market capitalization of $3.90 billion, a PE ratio of 6.30 and a beta of 0.12.

Torm (NASDAQ:TRMD) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). The firm had revenue of $662.80 million for the quarter, compared to analyst estimates of $499.01 million. Torm had a return on equity of 27.24% and a net margin of 35.51%.

Torm Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $2.40 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from Torm’s previous quarterly dividend of $0.70. This represents a $9.60 annualized dividend and a yield of 25.1%. Torm’s dividend payout ratio is 115.49%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Optiver Holding B.V. purchased a new position in shares of Torm during the 1st quarter valued at approximately $67,000. Hilton Head Capital Partners LLC acquired a new stake in Torm in the 4th quarter valued at $121,000. Savant Capital LLC purchased a new stake in Torm in the 4th quarter worth $203,000. Bank of New York Mellon Corp purchased a new stake in Torm in the 1st quarter worth $228,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Torm during the first quarter worth $252,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Torm Company Profile

TORM plc is an international product tanker company that transports refined oil products and other energy-related cargoes by sea. Its vessels carry products such as gasoline, jet fuel, diesel and other clean petroleum products between production, storage and consumption markets.

The company operates a fleet of product tankers across several size categories, including long-range, medium-range and Handysize vessels. TORM provides seaborne transportation services to oil companies, trading houses and other commercial customers, with operations serving major shipping routes and energy markets worldwide.

TORM traces its history to 1889 and is headquartered in Copenhagen, Denmark.