Hafnia (NYSE:HAFN) Reaches New 1-Year High - Here's What Happened

Key Points

• 52-week high: Hafnia shares reached a new 52-week high, trading as high as $7.97 and last at $7.9450, up about 4% on volume of roughly 1.04 million shares.
• Earnings and revenue: The company matched EPS estimates of $0.22 but reported a large revenue beat of $599.9 million versus estimates of $285.6 million, with a net margin of 35.54% and ROE of 14.71%.
• Dividend and yield: Hafnia raised its quarterly dividend to $0.1762 (annualized $0.70) for an 8.9% yield, though the dividend payout ratio is elevated at 102.94%.

Hafnia Limited (NYSE:HAFN - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $7.97 and last traded at $7.9450, with a volume of 1038944 shares changing hands. The stock had previously closed at $7.64.

Wall Street Analysts Forecast Growth

HAFN has been the topic of several analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Hafnia in a research report on Wednesday, December 24th. Dnb Carnegie cut Hafnia from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 12th. Finally, Wall Street Zen downgraded Hafnia from a "buy" rating to a "hold" rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Hafnia presently has a consensus rating of "Moderate Buy".

Hafnia Trading Up 4.0%

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.40. The stock's 50-day moving average is $6.90 and its two-hundred day moving average is $6.28. The company has a market cap of $4.07 billion, a P/E ratio of 11.70 and a beta of 0.65.

Hafnia (NYSE:HAFN - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $0.22 earnings per share for the quarter, meeting analysts' consensus estimates of $0.22. The business had revenue of $599.88 million during the quarter, compared to analyst estimates of $285.64 million. Hafnia had a net margin of 35.54% and a return on equity of 14.71%.

Hafnia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 6th were issued a $0.1762 dividend. This is a positive change from Hafnia's previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend was Friday, March 6th. Hafnia's dividend payout ratio is currently 102.94%.

Institutional Investors Weigh In On Hafnia

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC purchased a new position in shares of Hafnia in the fourth quarter worth approximately $36,000. Royal Bank of Canada raised its position in Hafnia by 504.8% in the fourth quarter. Royal Bank of Canada now owns 7,185 shares of the company's stock worth $38,000 after acquiring an additional 5,997 shares during the period. Smartleaf Asset Management LLC bought a new position in Hafnia in the fourth quarter worth approximately $47,000. GC Wealth Management RIA LLC purchased a new position in shares of Hafnia during the 4th quarter worth $53,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Hafnia during the 2nd quarter valued at $55,000.

Hafnia Company Profile

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.

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