DHT (NYSE:DHT) Announces Earnings Results, Beats Estimates By $0.12 EPS

DHT (NYSE:DHT) posted its quarterly earnings data on Wednesday. The shipping company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12, Zacks reports. DHT had a return on equity of 15.58% and a net margin of 27.72%.

DHT Stock Performance

Shares of NYSE DHT traded down $0.06 during midday trading on Wednesday, hitting $11.80. 2,644,791 shares of the stock traded hands, compared to its average volume of 2,237,419. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41. DHT has a one year low of $8.67 and a one year high of $12.80. The firm has a market capitalization of $1.90 billion, a P/E ratio of 11.80 and a beta of -0.39. The firm has a 50-day moving average of $9.99 and a two-hundred day moving average of $10.60.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.22 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a yield of 7.46%. DHT’s dividend payout ratio is presently 88.00%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DHT shares. Stifel Nicolaus dropped their price target on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. BTIG Research started coverage on shares of DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price on the stock. Kepler Capital Markets lowered shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 price target for the company. in a research note on Thursday, December 12th. Jefferies Financial Group restated a “buy” rating and issued a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Finally, StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.54.

About DHT

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.