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

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

DHT Trading Down 0.5 %

NYSE:DHT traded down $0.06 during trading hours on Wednesday, hitting $11.80. The company had a trading volume of 2,644,791 shares, compared to its average volume of 2,237,419. DHT has a 1 year low of $8.67 and a 1 year high of $12.80. The company has a market cap of $1.90 billion, a P/E ratio of 11.80 and a beta of -0.39. The company has a 50-day moving average of $9.99 and a 200 day moving average of $10.60. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio (DPR) is 88.00%.

Wall Street Analyst Weigh In

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