TORM plc Plans Quarterly Dividend of $0.88 (NASDAQ:TRMD)

TORM plc (NASDAQ:TRMD) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.876 per share on Wednesday, December 4th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 14.62%. The ex-dividend date is Thursday, November 21st.

TORM has raised its dividend payment by an average of 102.0% per year over the last three years. TORM has a dividend payout ratio of 130.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect TORM to earn $5.03 per share next year, which means the company may not be able to cover its $7.20 annual dividend with an expected future payout ratio of 143.1%.

TORM Trading Down 3.3 %

NASDAQ TRMD opened at $23.97 on Friday. 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 has a fifty-two week low of $23.75 and a fifty-two week high of $40.47. The stock has a 50-day simple moving average of $31.51 and a two-hundred day simple moving average of $35.07.

TORM (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The firm had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the business earned $2.14 EPS. As a group, equities research analysts forecast that TORM will post 7.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TRMD. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th. Evercore ISI boosted their target price on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

About TORM

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.