DHT Holdings Inc. (DHT) Upgraded by Zacks Investment Research to “Hold”
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. “
Other equities analysts have also issued reports about the stock. Jefferies Group reiterated a buy rating and set a $6.00 target price on shares of DHT Holdings in a research report on Thursday, August 11th. Morgan Stanley set a $7.00 target price on shares of DHT Holdings and gave the stock a buy rating in a research report on Wednesday, August 10th. TheStreet lowered shares of DHT Holdings from a buy rating to a hold rating in a research report on Monday, September 19th. Wells Fargo & Co. began coverage on shares of DHT Holdings in a research report on Monday, September 26th. They set a market perform rating on the stock. Finally, Pareto Securities upgraded shares of DHT Holdings from a hold rating to a buy rating in a research report on Thursday, November 3rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $6.71.
DHT Holdings (NYSE:DHT) opened at 3.87 on Monday. The firm’s 50-day moving average is $3.99 and its 200 day moving average is $4.64. DHT Holdings has a 52-week low of $3.29 and a 52-week high of $8.24. The stock has a market capitalization of $361.33 million, a PE ratio of 15.12 and a beta of 1.56.
DHT Holdings (NYSE:DHT) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($0.81) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.85. The firm had revenue of $50.30 million for the quarter, compared to the consensus estimate of $56.73 million. DHT Holdings had a return on equity of 13.75% and a net margin of 6.84%. DHT Holdings’s quarterly revenue was down 32.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 earnings per share. On average, equities analysts forecast that DHT Holdings will post $0.85 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 16th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, November 14th. DHT Holdings’s dividend payout ratio is 57.14%.
Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of DHT Holdings by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,951,478 shares of the company’s stock valued at $39,996,000 after buying an additional 40,984 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of DHT Holdings by 8.5% in the third quarter. BlackRock Fund Advisors now owns 2,548,961 shares of the company’s stock valued at $10,680,000 after buying an additional 199,202 shares in the last quarter. Allianz Asset Management AG increased its stake in shares of DHT Holdings by 34.2% in the second quarter. Allianz Asset Management AG now owns 1,945,209 shares of the company’s stock valued at $9,785,000 after buying an additional 496,095 shares in the last quarter. AJO LP increased its stake in shares of DHT Holdings by 40.2% in the second quarter. AJO LP now owns 1,886,459 shares of the company’s stock valued at $9,489,000 after buying an additional 540,804 shares in the last quarter. Finally, Cedar Capital LLC bought a new stake in shares of DHT Holdings during the third quarter valued at about $5,155,000. 56.89% of the stock is owned by 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.
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