DHT (NYSE:DHT) Releases Earnings Results, Beats Estimates By $0.40 EPS

Key Points

• DHT reported $1.01 EPS for the quarter, beating estimates of $0.61 by $0.40, and delivered a 17.70% return on equity with a 42.35% net margin.
• Shares jumped to $19.09 on the news; the company has a market cap of about $3.07 billion, a P/E of 14.57, and a 52-week range of $10.61–$20.55 (50- and 200-day moving averages: $18.08 and $14.96).
• Institutional ownership stands at 58.53% with several large funds markedly increasing positions, while analyst coverage is mixed (three Buy, three Hold) and the average price target is $19.33.

DHT (NYSE:DHT - Get Free Report) issued its earnings results on Tuesday. The shipping company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.40, Zacks reports. DHT had a return on equity of 17.70% and a net margin of 42.35%.

DHT Price Performance

Shares of DHT stock traded up $0.50 during trading hours on Tuesday, hitting $19.09. 3,313,656 shares of the company's stock were exchanged, compared to its average volume of 4,154,079. The stock's 50-day moving average is $18.08 and its 200-day moving average is $14.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.47. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 14.57 and a beta of -0.08. DHT has a 52 week low of $10.61 and a 52 week high of $20.55.

Institutional Trading of DHT

Several large investors have recently made changes to their positions in DHT. Marex Group plc grew its holdings in shares of DHT by 5,860.2% during the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company's stock worth $13,245,000 after purchasing an additional 1,066,552 shares during the last quarter. 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 worth $11,650,000 after purchasing an additional 943,990 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of DHT during the fourth quarter worth $8,927,000. Public Sector Pension Investment Board grew its holdings in shares of DHT by 447.5% during the fourth quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company's stock worth $9,092,000 after purchasing an additional 608,601 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in shares of DHT by 183.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 811,795 shares of the shipping company's stock worth $9,912,000 after purchasing an additional 525,557 shares during the last quarter. Institutional investors own 58.53% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DHT. Evercore cut DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price target on the stock. in a research report on Wednesday, April 22nd. Wall Street Zen upgraded DHT from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. BTIG Research upped their price target on DHT from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of DHT in a research report on Monday, April 20th. Finally, Dnb Carnegie cut DHT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.33.

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.

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