DHT Holdings, Inc. (NYSE:DHT) Receives $19.33 Consensus Target Price from Analysts

DHT Holdings, Inc. (NYSE:DHT) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $19.3333.

A number of equities analysts have commented on the stock. Evercore downgraded shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 11th. BTIG Research increased their price target on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Dnb Carnegie downgraded shares of DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th.

DHT Price Performance

Shares of DHT opened at $16.31 on Friday. DHT has a fifty-two week low of $10.61 and a fifty-two week high of $20.55. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 7.92 and a beta of -0.08. The firm has a 50-day simple moving average of $17.97 and a 200-day simple moving average of $15.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. DHT had a net margin of 58.54% and a return on equity of 27.54%. The business had revenue of $157.20 million during the quarter, compared to the consensus estimate of $152.15 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 134.9% compared to the same quarter last year.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were given a $0.64 dividend. The ex-dividend date was Thursday, May 21st. This is an increase from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a yield of 15.7%. DHT’s payout ratio is 124.27%.

Institutional Investors Weigh In On DHT

A number of hedge funds have recently added to or reduced their stakes in the company. Baron Wealth Management LLC lifted its position in DHT by 4.2% in the first quarter. Baron Wealth Management LLC now owns 14,750 shares of the shipping company’s stock valued at $269,000 after purchasing an additional 592 shares during the period. MetLife Investment Management LLC lifted its position in DHT by 1.4% in the fourth quarter. MetLife Investment Management LLC now owns 72,883 shares of the shipping company’s stock valued at $890,000 after purchasing an additional 994 shares during the period. Harbour Investments Inc. lifted its position in DHT by 16.0% in the fourth quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock valued at $88,000 after purchasing an additional 1,000 shares during the period. Summit Financial LLC lifted its position in DHT by 0.9% in the fourth quarter. Summit Financial LLC now owns 119,438 shares of the shipping company’s stock valued at $1,458,000 after purchasing an additional 1,111 shares during the period. Finally, First Trust Advisors LP lifted its position in DHT by 0.6% in the second quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock valued at $1,918,000 after purchasing an additional 1,114 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.