ValuEngine Downgrades DHT (NYSE:DHT) to Strong Sell

ValuEngine lowered shares of DHT (NYSE:DHT) from a sell rating to a strong sell rating in a research report report published on Thursday, ValuEngine reports.

Several other brokerages also recently commented on DHT. Zacks Investment Research upgraded DHT from a hold rating to a strong-buy rating and set a $8.25 target price for the company in a research note on Monday, October 21st. Evercore ISI reiterated a buy rating and set a $8.00 price target on shares of DHT in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. DHT presently has a consensus rating of Buy and an average target price of $8.13.

Shares of DHT traded down $0.04 during trading hours on Thursday, hitting $7.17. The stock had a trading volume of 1,074,321 shares, compared to its average volume of 1,311,791. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.58 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $7.05 and a 200-day simple moving average of $6.01. The firm has a market capitalization of $1.01 billion, a P/E ratio of -28.68, a price-to-earnings-growth ratio of 1.85 and a beta of 0.53. DHT has a 1-year low of $3.60 and a 1-year high of $7.99.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, October 23rd. The shipping company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The company had revenue of $58.89 million during the quarter, compared to the consensus estimate of $55.16 million. DHT had a return on equity of 2.66% and a net margin of 2.04%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the business posted ($0.15) EPS. Equities analysts predict that DHT will post 0.83 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.20 dividend on an annualized basis and a yield of 2.79%. DHT’s dividend payout ratio (DPR) is currently -80.00%.

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in DHT by 581.6% during the 2nd quarter. Royal Bank of Canada now owns 4,546 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 3,879 shares during the last quarter. Founders Capital Management boosted its stake in DHT by 100.0% during the 3rd quarter. Founders Capital Management now owns 5,000 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 2,500 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in DHT during the 2nd quarter valued at about $51,000. Meeder Asset Management Inc. boosted its stake in DHT by 2,556.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 11,156 shares of the shipping company’s stock valued at $66,000 after purchasing an additional 10,736 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in DHT by 551.5% during the 2nd quarter. Bank of Montreal Can now owns 11,714 shares of the shipping company’s stock valued at $69,000 after purchasing an additional 9,916 shares during the last quarter. Institutional investors and hedge funds own 42.70% of the company’s stock.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 18, 2019, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

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