DHT (NYSE:DHT) Announces Earnings Results

DHT (NYSE:DHT) released its quarterly earnings results on Monday. The shipping company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19, FiscalAI reports. The business had revenue of $290.34 million during the quarter, compared to analysts’ expectations of $258.12 million. DHT had a net margin of 65.52% and a return on equity of 39.40%.

DHT Price Performance

NYSE DHT traded down $0.13 on Monday, reaching $20.55. 6,780,606 shares of the company’s stock traded hands, compared to its average volume of 3,984,381. DHT has a 12 month low of $11.64 and a 12 month high of $26.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. The stock has a 50-day simple moving average of $22.81 and a 200 day simple moving average of $18.89. The stock has a market cap of $3.31 billion, a PE ratio of 6.99 and a beta of -0.03.

Analysts Set New Price Targets

DHT has been the subject of a number of research analyst reports. BTIG Research lifted their price objective on shares of DHT from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Weiss Ratings upgraded DHT from a “buy (b+)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Finally, Evercore set a $26.00 price target on DHT in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Insider Activity

In other news, Director Svenn Edvardsen sold 341,007 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $20.29, for a total value of $6,919,032.03. Following the completion of the sale, the director directly owned 395,705 shares in the company, valued at approximately $8,028,854.45. The trade was a 46.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon Eglin sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total transaction of $999,500.00. Following the completion of the sale, the insider directly owned 324,622 shares of the company’s stock, valued at $6,489,193.78. This trade represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 554,007 shares of company stock valued at $11,287,402. Insiders own 1.60% of the company’s stock.

About DHT