DHT Holdings, Inc. (NYSE:DHT) Receives $12.94 Average PT 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.

Shares of DHT Holdings, Inc. (NYSE:DHT - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $12.94.

DHT has been the subject of a number of recent analyst reports. Zacks Research raised shares of DHT to a "hold" rating in a research note on Monday, August 11th. Jefferies Financial Group reaffirmed a "buy" rating and set a $15.00 price target on shares of DHT in a research note on Thursday, August 7th.

DHT Trading Up 1.3%

Shares of DHT stock traded up $0.15 during trading hours on Friday, reaching $11.57. 908,769 shares of the stock were exchanged, compared to its average volume of 1,369,188. DHT has a 12-month low of $8.67 and a 12-month high of $12.32. 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's 50-day moving average price is $11.21 and its 200-day moving average price is $10.99. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.80 and a beta of 0.02.

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

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were given a $0.24 dividend. This is a positive change from DHT's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.96 annualized dividend and a yield of 8.3%. DHT's dividend payout ratio is presently 81.36%.

Institutional Investors Weigh In On DHT

Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in DHT by 33.2% in the 4th quarter. Ameriprise Financial Inc. now owns 438,930 shares of the shipping company's stock valued at $4,078,000 after buying an additional 109,376 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in DHT in the 1st quarter valued at about $112,000. GAMMA Investing LLC boosted its position in DHT by 1,805.5% in the 1st quarter. GAMMA Investing LLC now owns 25,095 shares of the shipping company's stock valued at $263,000 after buying an additional 23,778 shares during the period. Cerity Partners LLC purchased a new stake in DHT in the 1st quarter valued at about $465,000. Finally, Millennium Management LLC boosted its position in DHT by 129.6% in the 4th quarter. Millennium Management LLC now owns 69,507 shares of the shipping company's stock valued at $646,000 after buying an additional 39,231 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.