DHT (NYSE:DHT) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

DHT (NYSE:DHT) released its quarterly earnings data on Wednesday. The shipping company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.15 by $0.07, FiscalAI reports. The business had revenue of $254.96 million for the quarter, compared to analyst estimates of $247.17 million. DHT had a net margin of 58.54% and a return on equity of 27.54%. The business’s revenue for the quarter was up 174.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS.

DHT Price Performance

DHT stock traded down $0.20 during trading on Wednesday, hitting $17.94. The stock had a trading volume of 4,295,991 shares, compared to its average volume of 2,639,140. The company’s 50 day moving average price is $17.70 and its two-hundred day moving average price is $17.33. DHT has a 1-year low of $10.69 and a 1-year high of $20.55. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 8.71 and a beta of -0.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83.

Institutional Investors Weigh In On DHT

Several hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after buying an additional 1,596 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in DHT during the third quarter worth approximately $60,000. Zions Bancorporation National Association UT acquired a new stake in DHT during the fourth quarter worth approximately $65,000. Xponance LLC purchased a new stake in DHT in the 4th quarter worth approximately $128,000. Finally, Quadrature Capital Ltd purchased a new stake in DHT in the 4th quarter worth approximately $135,000. 58.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. BTIG Research increased their price target on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Evercore downgraded 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. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.33.

DHT Company Profile

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.