DHT Holdings, Inc. (DHT) Announces Quarterly Dividend of $0.02
DHT Holdings, Inc. (NYSE:DHT) announced a quarterly dividend on Tuesday, November 14th, Wall Street Journal reports. Shareholders of record on Tuesday, November 28th will be given a dividend of 0.02 per share by the shipping company on Wednesday, December 6th. This represents a $0.08 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, November 27th.
DHT Holdings has increased its dividend payment by an average of 107.0% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. DHT Holdings has a payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DHT Holdings to earn $0.30 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 26.7%.
DHT Holdings (NYSE:DHT) traded down $0.10 during midday trading on Tuesday, reaching $3.87. 1,193,300 shares of the company’s stock traded hands, compared to its average volume of 1,104,192. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.82. DHT Holdings has a twelve month low of $3.44 and a twelve month high of $5.20. The stock has a market capitalization of $536.65, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 4.86 and a beta of 0.95.
DHT Holdings (NYSE:DHT) last posted its earnings results on Monday, November 13th. The shipping company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.04. The company had revenue of $54.80 million during the quarter, compared to analyst estimates of $50.43 million. DHT Holdings had a negative net margin of 12.48% and a positive return on equity of 6.07%. DHT Holdings’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.81) earnings per share. equities analysts expect that DHT Holdings will post 0.16 earnings per share for the current year.
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A number of analysts have recently weighed in on DHT shares. Maxim Group set a $7.00 price target on shares of DHT Holdings and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Group LLC reissued a “buy” rating on shares of DHT Holdings in a research note on Thursday, October 19th. ValuEngine raised shares of DHT Holdings from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus set a $5.00 price target on shares of DHT Holdings and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of DHT Holdings from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $6.00.
DHT Holdings Company Profile
DHT Holdings, Inc operates a fleet of crude oil tankers. As of March 21, 2017, the Company’s fleet consisted of 21 crude oil tankers in operation. As of March 21, 2017, the Company’s fleet consisted of 19 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 dwt.
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