TORM (NASDAQ:TRMD) Shares Down 0% – Here’s Why

TORM plc (NASDAQ:TRMD)’s share price dropped 0% during trading on Thursday . The company traded as low as $31.88 and last traded at $31.91. Approximately 149,797 shares changed hands during trading, a decline of 79% from the average daily volume of 713,069 shares. The stock had previously closed at $31.92.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRMD. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th. Evercore ISI raised their target price on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Trading Down 1.5 %

The business has a fifty day simple moving average of $35.23 and a two-hundred day simple moving average of $35.98. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period in the prior year, the firm earned $2.14 earnings per share. On average, analysts expect that TORM plc will post 7.1 EPS for the current year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 22.76%. This is a positive change from TORM’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, August 29th. TORM’s dividend payout ratio (DPR) is presently 67.44%.

Institutional Investors Weigh In On TORM

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its stake in TORM by 597.3% during the second quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock valued at $888,000 after buying an additional 19,628 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of TORM during the first quarter valued at approximately $1,229,000. Lighthouse Investment Partners LLC raised its holdings in TORM by 276.2% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock worth $4,267,000 after acquiring an additional 80,793 shares during the last quarter. Hsbc Holdings PLC bought a new position in TORM in the 2nd quarter valued at approximately $9,619,000. Finally, Sei Investments Co. boosted its stake in TORM by 250.0% during the 2nd quarter. Sei Investments Co. now owns 43,492 shares of the company’s stock valued at $1,686,000 after purchasing an additional 31,066 shares during the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.

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.