Zacks Investment Research upgraded shares of DHT Holdings, Inc. (NYSE:DHT) from a sell rating to a hold rating in a research report released on Thursday.
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 have also weighed in on DHT. BidaskClub lowered shares of DHT Holdings from a hold rating to a sell rating in a research note on Tuesday, July 25th. Maxim Group set a $7.00 target price on shares of DHT Holdings and gave the company a buy rating in a research note on Thursday, August 3rd. Stifel Nicolaus set a $5.00 target price on shares of DHT Holdings and gave the company a hold rating in a research note on Wednesday, August 9th. ValuEngine lowered shares of DHT Holdings from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC reiterated a buy rating on shares of DHT Holdings in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $6.00.
DHT Holdings (NYSE:DHT) last announced its earnings results on Monday, November 13th. The shipping company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. The business had revenue of $54.80 million during the quarter, compared to analyst estimates of $50.43 million. DHT Holdings had a net margin of 9.68% and a return on equity of 4.84%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.81) EPS. analysts anticipate that DHT Holdings will post 0.21 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Tuesday, November 28th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, November 27th. DHT Holdings’s payout ratio is -17.78%.
A number of institutional investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in DHT Holdings by 1.1% in the 1st quarter. Legal & General Group Plc now owns 24,683 shares of the shipping company’s stock worth $110,000 after buying an additional 260 shares during the period. American International Group Inc. boosted its holdings in DHT Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 56,537 shares of the shipping company’s stock worth $253,000 after buying an additional 3,744 shares during the period. Voya Investment Management LLC boosted its holdings in DHT Holdings by 16.8% in the 2nd quarter. Voya Investment Management LLC now owns 46,770 shares of the shipping company’s stock worth $194,000 after buying an additional 6,737 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in DHT Holdings by 11.7% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 70,615 shares of the shipping company’s stock worth $293,000 after buying an additional 7,388 shares during the period. Finally, Bank of America Corp DE boosted its holdings in DHT Holdings by 87.1% in the 1st quarter. Bank of America Corp DE now owns 26,646 shares of the shipping company’s stock worth $119,000 after buying an additional 12,407 shares during the period. 36.08% of the stock is owned by institutional investors.
About DHT Holdings
DHT Holdings, Inc operates a fleet of crude oil tankers. As of March 21, 2017, the Company’s fleet consisted of 21 crude oil tankers in operation. As of March 21, 2017, the Company’s fleet consisted of 19 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 dwt.
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