DHT (NYSE:DHT) Earns "Buy (B)" Rating from Weiss Ratings

Key Points

• DHT's stock has received a "Buy (B)" rating from Weiss Ratings, indicating positive sentiment among analysts.
• The company reported $0.24 earnings per share (EPS) for the last quarter, surpassing estimates, but saw a 10.5% decline in revenue year-over-year.
• Institutional investors hold a significant portion of DHT's stock, with hedge funds owning 58.53% of the company's shares.

DHT (NYSE:DHT - Get Free Report)'s stock had its "buy (b)" rating reissued by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on DHT. Zacks Research raised DHT to a "hold" rating in a research report on Monday, August 11th. Jefferies Financial Group reissued a "buy" rating and issued a $15.00 price target on shares of DHT in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, DHT presently has a consensus rating of "Moderate Buy" and an average target price of $12.94.

DHT Price Performance

NYSE DHT traded up $0.03 during trading hours on Wednesday, reaching $11.48. The company's stock had a trading volume of 1,656,103 shares, compared to its average volume of 1,888,657. The firm's 50-day moving average price is $11.83 and its 200-day moving average price is $11.29. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23. DHT has a 1 year low of $8.67 and a 1 year high of $13.06. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 9.73 and a beta of 0.01.

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

Hedge Funds Weigh In On DHT

A number of large investors have recently modified their holdings of DHT. American Century Companies Inc. lifted its stake in shares of DHT by 11.2% during the second quarter. American Century Companies Inc. now owns 4,899,375 shares of the shipping company's stock worth $52,962,000 after purchasing an additional 491,717 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in DHT during the first quarter valued at approximately $19,950,000. Bridgeway Capital Management LLC raised its stake in DHT by 2.7% during the second quarter. Bridgeway Capital Management LLC now owns 1,164,952 shares of the shipping company's stock valued at $12,593,000 after buying an additional 30,980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DHT by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,078,387 shares of the shipping company's stock valued at $11,323,000 after purchasing an additional 91,594 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock valued at $11,650,000 after purchasing an additional 943,990 shares during the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

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.