DHT (NYSE:DHT) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

DHT (NYSE:DHT) posted its earnings results on Monday. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01), Briefing.com reports. The company had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. DHT had a return on equity of 16.34% and a net margin of 29.58%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS.

DHT Price Performance

Shares of NYSE DHT traded up $0.19 during midday trading on Wednesday, reaching $10.94. The stock had a trading volume of 768,212 shares, compared to its average volume of 1,852,783. The stock has a 50-day moving average of $11.37 and a 200-day moving average of $11.41. DHT has a 12-month low of $8.60 and a 12-month high of $12.80. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.24 and a beta of -0.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.69 and a current ratio of 3.30.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.87%. DHT’s payout ratio is currently 110.48%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their target price on shares of DHT from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.67.

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.