Torm (NASDAQ:TRMD) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Torm (NASDAQ:TRMD) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Torm from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 28th. Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Evercore restated an “outperform” rating and issued a $38.00 target price on shares of Torm in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Torm has an average rating of “Moderate Buy” and an average price target of $38.00.

Torm Stock Down 0.7%

Shares of NASDAQ TRMD opened at $34.94 on Friday. The company has a market capitalization of $3.57 billion, a P/E ratio of 5.76 and a beta of 0.12. Torm has a 52-week low of $19.30 and a 52-week high of $35.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.97 and a current ratio of 2.27. The company’s 50 day moving average price is $30.28 and its 200-day moving average price is $29.69.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). The firm had revenue of $662.80 million during the quarter, compared to analyst estimates of $499.01 million. Torm had a net margin of 35.51% and a return on equity of 27.24%.

Torm Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $2.40 dividend. This is an increase from Torm’s previous quarterly dividend of $0.70. This represents a $9.60 annualized dividend and a dividend yield of 27.5%. The ex-dividend date is Thursday, September 10th. Torm’s dividend payout ratio is currently 115.32%.

Institutional Investors Weigh In On Torm

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Torm in the 3rd quarter valued at about $35,000. Optiver Holding B.V. purchased a new position in shares of Torm in the 1st quarter worth approximately $67,000. Tower Research Capital LLC TRC bought a new position in shares of Torm in the second quarter valued at approximately $46,000. Wexford Capital LP bought a new position in shares of Torm in the third quarter valued at approximately $120,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Torm in the fourth quarter valued at approximately $121,000. 73.89% of the stock is owned by institutional investors.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.