DHT Holdings, Inc. (NYSE:DHT) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• DHT Holdings has a consensus analyst rating of “Moderate Buy”, based on six covering firms split evenly between hold and buy recommendations. The average 12-month price target is about $19.33.
• The company recently raised its quarterly dividend to $0.64 per share from $0.41, which implies an annualized yield of 14.4%. However, the payout ratio is elevated at 124.27%.
• DHT reported better-than-expected first-quarter earnings, with EPS of $0.64 versus estimates of $0.62 and revenue of $157.2 million versus expectations of $152.15 million. Revenue also surged 134.9% year over year.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $19.3333.

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of DHT from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. BTIG Research increased their price objective on shares of DHT from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Evercore cut shares of DHT from an "outperform" rating to an "in-line" rating and set a $19.00 target price on the stock. in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of DHT from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, June 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new stake in shares of DHT during the 1st quarter valued at about $46,000. EverSource Wealth Advisors LLC boosted its holdings in shares of DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company's stock worth $36,000 after buying an additional 1,596 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company's stock worth $43,000 after buying an additional 3,022 shares during the last quarter. Sound Income Strategies LLC bought a new stake in DHT during the fourth quarter valued at approximately $58,000. Finally, PNC Financial Services Group Inc. grew its position in DHT by 32.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company's stock valued at $89,000 after buying an additional 1,175 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Trading Down 0.1%

Shares of NYSE:DHT opened at $17.75 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62. DHT has a 1 year low of $10.61 and a 1 year high of $20.55. The company has a market cap of $2.86 billion, a P/E ratio of 8.62 and a beta of -0.11. The stock's fifty day moving average price is $17.67 and its 200-day moving average price is $16.62.

DHT (NYSE:DHT - Get Free Report) last issued its earnings results on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $157.20 million during the quarter, compared to analyst estimates of $152.15 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.DHT's revenue was up 134.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were paid a $0.64 dividend. This is an increase from DHT's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 14.4%. DHT's dividend payout ratio (DPR) is 124.27%.

DHT Company Profile

DHT Holdings, Inc NYSE: DHT is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.