DHT (NYSE:DHT) Announces Earnings Results, Beats Estimates By $0.02 EPS

DHT (NYSE:DHT) released its quarterly earnings data on Tuesday. The shipping company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02, Briefing.com reports. The business had revenue of $92.64 million during the quarter, compared to analyst estimates of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. DHT’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.19 EPS.

DHT Stock Performance

NYSE:DHT opened at $10.80 on Friday. The stock has a 50-day simple moving average of $10.92 and a two-hundred day simple moving average of $11.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.33 and a current ratio of 2.41. DHT has a 52-week low of $9.28 and a 52-week high of $12.80. The firm has a market capitalization of $1.74 billion, a PE ratio of 10.80 and a beta of -0.36.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a yield of 8.15%. DHT’s dividend payout ratio is currently 108.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DHT. Stifel Nicolaus decreased their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a report on Thursday. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group restated a “buy” rating and set a $14.00 target price on shares of DHT in a research note on Wednesday. Finally, BTIG Research assumed coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target for the company. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Company Profile

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.