Zacks Investment Research lowered shares of Double Hull Tankers (NYSE:DHT) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning.
According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “
A number of other equities research analysts also recently commented on DHT. ValuEngine downgraded Double Hull Tankers from a hold rating to a sell rating in a research report on Friday, February 2nd. JPMorgan Chase upgraded Double Hull Tankers from a neutral rating to an overweight rating and set a $5.00 target price on the stock in a research report on Friday, March 23rd. Pareto Securities upgraded Double Hull Tankers from a hold rating to a buy rating in a research report on Tuesday, January 16th. Jefferies Group began coverage on Double Hull Tankers in a research report on Monday, December 18th. They issued a buy rating and a $6.00 target price on the stock. Finally, Morgan Stanley upgraded Double Hull Tankers from an equal weight rating to an overweight rating and set a $5.00 target price on the stock in a research report on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $5.60.
Double Hull Tankers (NYSE:DHT) last posted its earnings results on Tuesday, February 6th. The shipping company reported ($0.05) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.05). Double Hull Tankers had a return on equity of 1.61% and a net margin of 1.86%. The company had revenue of $56.60 million for the quarter, compared to the consensus estimate of $55.82 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. research analysts predict that Double Hull Tankers will post -0.17 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in shares of Double Hull Tankers in the 4th quarter valued at $232,000. Renaissance Technologies LLC raised its holdings in shares of Double Hull Tankers by 37.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,958,700 shares of the shipping company’s stock valued at $7,032,000 after buying an additional 531,400 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Double Hull Tankers in the 4th quarter valued at $143,000. BlackRock Inc. raised its holdings in shares of Double Hull Tankers by 4.5% in the 4th quarter. BlackRock Inc. now owns 4,045,157 shares of the shipping company’s stock valued at $14,522,000 after buying an additional 174,219 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Double Hull Tankers by 43.8% in the 4th quarter. Wells Fargo & Company MN now owns 190,775 shares of the shipping company’s stock valued at $685,000 after buying an additional 58,141 shares during the period. Hedge funds and other institutional investors own 35.81% of the company’s stock.
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Double Hull Tankers Company Profile
DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 21, 2017, its fleet consisted of 21 crude oil tankers, including 19 very large crude carriers and 2 Aframax tankers. The company was incorporated in 2010 and is headquartered in Hamilton, Bermuda.
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