TORM (NASDAQ:TRMD) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

TORM (NASDAQ:TRMD) posted its quarterly earnings data on Thursday. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03, Zacks reports. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 39.79% and a net margin of 44.74%. During the same period last year, the company earned $2.14 EPS.

TORM Trading Down 1.1 %

Shares of TRMD stock traded down $0.40 on Friday, reaching $37.27. 945,765 shares of the company’s stock were exchanged, compared to its average volume of 477,693. TORM has a 52 week low of $24.11 and a 52 week high of $40.47. The company has a current ratio of 2.60, a quick ratio of 2.37 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $3.04 billion, a PE ratio of 4.71 and a beta of 0.27. The company’s fifty day simple moving average is $37.34 and its 200 day simple moving average is $35.77.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Thursday, August 29th will be paid a dividend of $1.80 per share. This is a positive change from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a dividend yield of 19.32%. The ex-dividend date is Thursday, August 29th. TORM’s dividend payout ratio (DPR) is currently 55.30%.

Analyst Ratings Changes

Separately, Evercore ISI raised their price target on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Company Profile

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.