DHT (NYSE:DHT) Releases Earnings Results, Misses Expectations By $0.01 EPS

DHT (NYSE:DHT) posted its earnings results on Monday. The shipping company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01), Briefing.com reports. DHT had a return on equity of 16.34% and a net margin of 29.58%. The company had revenue of $103.70 million for the quarter, compared to analyst estimates of $102.75 million. During the same period last year, the business earned $0.35 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis.

DHT Price Performance

NYSE DHT traded up $0.16 on Wednesday, hitting $10.91. The company had a trading volume of 2,341,657 shares, compared to its average volume of 1,863,492. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.30 and a quick ratio of 2.69. The company’s fifty day moving average price is $11.37 and its 200-day moving average price is $11.41. The company has a market capitalization of $1.76 billion, a PE ratio of 10.39 and a beta of -0.35. DHT has a 12-month low of $8.60 and a 12-month high of $12.80.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 23rd will be paid a $0.27 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 9.90%. DHT’s dividend payout ratio is currently 110.48%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus increased their target price on shares of DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, DHT currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

About DHT

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.