DHT (NYSE:DHT) Announces Earnings Results, Beats Expectations By $0.02 EPS

DHT (NYSE:DHT) issued its quarterly earnings data on Tuesday. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02, Briefing.com reports. The firm had revenue of $92.64 million during the quarter, compared to the consensus estimate of $87.51 million. DHT had a return on equity of 15.57% and a net margin of 27.72%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

DHT Stock Up 1.0 %

DHT stock opened at $10.81 on Thursday. The business has a 50-day moving average of $10.91 and a 200-day moving average of $11.28. DHT has a fifty-two week low of $9.28 and a fifty-two week high of $12.80. The stock has a market capitalization of $1.74 billion, a P/E ratio of 10.71 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 8.14%. The ex-dividend date is Friday, November 22nd. DHT’s dividend payout ratio is 108.00%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus decreased their price objective on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday. StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DHT presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

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.