DHT Holdings, Inc. (NYSE:DHT) Plans Quarterly Dividend of $0.29

DHT Holdings, Inc. (NYSE:DHT) declared a quarterly dividend on Tuesday, May 14th, Wall Street Journal reports. Stockholders of record on Friday, May 24th will be given a dividend of 0.29 per share by the shipping company on Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 9.14%. The ex-dividend date is Thursday, May 23rd. This is a positive change from DHT’s previous quarterly dividend of $0.22.

DHT has decreased its dividend by an average of 5.2% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. DHT has a payout ratio of 52.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DHT to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 83.5%.

DHT Trading Down 0.2 %

NYSE:DHT opened at $12.69 on Wednesday. DHT has a fifty-two week low of $7.60 and a fifty-two week high of $12.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.30 and a quick ratio of 2.94. The stock has a market capitalization of $2.05 billion, a PE ratio of 12.11 and a beta of -0.34. The business’s 50-day simple moving average is $11.58 and its 200-day simple moving average is $10.92.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, May 14th. The shipping company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). DHT had a net margin of 29.58% and a return on equity of 16.34%. The business had revenue of $106.30 million for the quarter, compared to the consensus estimate of $106.87 million. During the same quarter last year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Sell-side analysts expect that DHT will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DHT. TheStreet raised DHT from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Truist Financial lifted their target price on DHT from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Stifel Nicolaus restated a “hold” rating and issued a $12.00 price target on shares of DHT in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group upgraded DHT from a “hold” rating to a “buy” rating and boosted their price target for the company from $11.00 to $14.00 in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.33.

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.