DHT Holdings Inc. (DHT) Downgraded by Zacks Investment Research
DHT Holdings Inc. (NYSE:DHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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. “
DHT has been the subject of a number of other research reports. Jefferies Group reissued a “buy” rating on shares of DHT Holdings in a report on Monday, August 29th. Wells Fargo & Co. initiated coverage on DHT Holdings in a research note on Monday, September 26th. They issued a “market perform” rating for the company. Morgan Stanley downgraded DHT Holdings from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $7.00 to $5.50 in a research note on Thursday, August 25th. Finally, TheStreet downgraded DHT Holdings from a “buy” rating to a “hold” rating in a research note on Monday, September 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. DHT Holdings currently has a consensus rating of “Hold” and an average target price of $7.78.
Shares of DHT Holdings (NYSE:DHT) traded down 1.59% on Tuesday, hitting $4.33. 1,446,495 shares of the stock traded hands. DHT Holdings has a 1-year low of $4.00 and a 1-year high of $8.48. The stock has a 50 day moving average of $4.30 and a 200-day moving average of $5.08. The stock has a market cap of $404.27 million, a PE ratio of 3.55 and a beta of 1.00.
DHT Holdings (NYSE:DHT) last posted its earnings results on Tuesday, August 9th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. DHT Holdings had a return on equity of 17.09% and a net margin of 33.81%. The company earned $83.20 million during the quarter, compared to the consensus estimate of $82.44 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts expect that DHT Holdings will post $1.02 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. InterOcean Capital LLC boosted its stake in DHT Holdings by 2.1% in the second quarter. InterOcean Capital LLC now owns 54,825 shares of the company’s stock valued at $276,000 after buying an additional 1,150 shares during the period. BlackRock Fund Advisors boosted its stake in DHT Holdings by 0.8% in the second quarter. BlackRock Fund Advisors now owns 2,349,759 shares of the company’s stock valued at $11,819,000 after buying an additional 17,977 shares during the period. Lombard Odier Asset Management USA Corp boosted its stake in DHT Holdings by 10.6% in the second quarter. Lombard Odier Asset Management USA Corp now owns 212,894 shares of the company’s stock valued at $1,071,000 after buying an additional 20,393 shares during the period. WealthTrust Axiom LLC purchased a new stake in DHT Holdings during the second quarter valued at $102,000. Finally, Wolverine Asset Management LLC boosted its stake in DHT Holdings by 20.7% in the second quarter. Wolverine Asset Management LLC now owns 121,200 shares of the company’s stock valued at $609,000 after buying an additional 20,800 shares during the period. 67.66% of the stock is owned by hedge funds and other institutional investors.
About DHT Holdings
DHT Holdings, Inc (DHT) is a holding company. The Company, through its subsidiaries, owns and operates a fleet of crude oil tankers. Its fleet consists of approximately 20 crude oil tankers in operation, all of which are owned by the company. The Company’s fleet in operation consists of over 20 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (DWTs), approximately one Suezmax tanker (Suezmax), which is a tanker ranging in size from 130,000 to 170,000 DWT and over two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 DWT.
Receive News & Stock Ratings for DHT Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DHT Holdings Inc. and related stocks with our FREE daily email newsletter.