DHT (NYSE:DHT) Issues Earnings Results

DHT (NYSE:DHT) announced its earnings results on Monday. The shipping company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01), Briefing.com reports. The business had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. DHT had a return on equity of 16.34% and a net margin of 29.58%. DHT’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share.

DHT Trading Down 3.4 %

Shares of DHT opened at $10.75 on Wednesday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 10.24 and a beta of -0.35. The company has a quick ratio of 2.69, a current ratio of 3.30 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $11.37 and a two-hundred day simple moving average of $11.41. DHT has a twelve month low of $8.60 and a twelve month high of $12.80.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.08 annualized dividend and a yield of 10.05%. DHT’s payout ratio is currently 110.48%.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their price objective on DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, DHT currently has an average rating of “Moderate Buy” and an average target price of $14.67.

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.