Zacks Investment Research Downgrades DHT (NYSE:DHT) to Hold

Zacks Investment Research lowered shares of DHT (NYSE:DHT) from a buy rating to a hold rating in a report published on Tuesday, reports.

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. “

DHT has been the subject of a number of other research reports. ValuEngine lowered Acceleron Pharma from a strong-buy rating to a buy rating in a research report on Thursday, April 18th. Evercore ISI lowered DHT from an outperform rating to an in-line rating and set a $5.17 price objective for the company. in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $6.28.

Shares of DHT stock opened at $5.98 on Tuesday. DHT has a 52-week low of $3.60 and a 52-week high of $6.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.47 and a quick ratio of 1.21. The stock has a market cap of $850.60 million, a price-to-earnings ratio of -23.92, a PEG ratio of 4.62 and a beta of 0.57. The business has a fifty day simple moving average of $5.70.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. DHT had a negative return on equity of 1.09% and a negative net margin of 5.17%. The business had revenue of $85.80 million during the quarter, compared to analyst estimates of $77.18 million. During the same quarter in the prior year, the business posted ($0.06) EPS. DHT’s revenue for the quarter was up 85.7% compared to the same quarter last year. Equities analysts anticipate that DHT will post 0.26 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of DHT by 8.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,205,894 shares of the shipping company’s stock valued at $36,087,000 after acquiring an additional 707,575 shares in the last quarter. BlackRock Inc. increased its holdings in DHT by 2.4% during the fourth quarter. BlackRock Inc. now owns 4,746,892 shares of the shipping company’s stock valued at $18,608,000 after buying an additional 111,286 shares during the period. Saya Management LP increased its holdings in DHT by 17.3% during the fourth quarter. Saya Management LP now owns 1,833,068 shares of the shipping company’s stock valued at $7,186,000 after buying an additional 270,327 shares during the period. DNB Asset Management AS increased its holdings in DHT by 792.4% during the second quarter. DNB Asset Management AS now owns 1,579,600 shares of the shipping company’s stock valued at $9,320,000 after buying an additional 1,402,600 shares during the period. Finally, Hartree Partners LP increased its holdings in DHT by 90.0% during the first quarter. Hartree Partners LP now owns 760,000 shares of the shipping company’s stock valued at $3,390,000 after buying an additional 360,000 shares during the period. 36.42% of the stock is owned by hedge funds and other institutional investors.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 18, 2019, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

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