DHT Holdings, Inc. (NYSE:DHT) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• DHT Holdings, Inc. has received a consensus recommendation of "Moderate Buy" from brokerages, with an average price target of $12.94.
• The company recently increased its quarterly dividend to $0.24 per share, reflecting an annualized payout of $0.96 and a dividend yield of 8.4%.
• DHT reported earnings of $0.24 per share for the last quarter, exceeding analyst estimates, though revenue was down 10.5% year-over-year.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $12.94.

Several brokerages have recently weighed in on DHT. Jefferies Financial Group reiterated a "buy" rating and set a $15.00 price target on shares of DHT in a research note on Thursday, August 7th. Zacks Research upgraded DHT to a "hold" rating in a research report on Monday, August 11th.

Hedge Funds Weigh In On DHT

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of DHT by 81.5% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock valued at $25,000 after buying an additional 1,073 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of DHT by 84.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock valued at $26,000 after buying an additional 1,265 shares in the last quarter. Roble Belko & Company Inc purchased a new position in shares of DHT in the second quarter valued at about $30,000. CWM LLC lifted its position in shares of DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company's stock valued at $32,000 after acquiring an additional 2,116 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of DHT by 190.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company's stock valued at $33,000 after acquiring an additional 1,982 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company's stock.

DHT Stock Performance

DHT opened at $11.4120 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 9.67 and a beta of 0.02. The company's 50 day moving average is $11.25 and its 200 day moving average is $10.99. DHT has a 12-month low of $8.67 and a 12-month high of $12.32.

DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $95.41 million. DHT had a net margin of 36.58% and a return on equity of 16.36%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities research analysts predict that DHT will post 0.94 EPS for the current year.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 18th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Monday, August 18th. This is an increase from DHT's previous quarterly dividend of $0.17. DHT's payout ratio is presently 81.36%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.