Hafnia (NYSE:HAFN) Reaches New 52-Week High - Here's What Happened

Key Points

• Hafnia hit a new 52-week high of $8.31 on Wednesday, trading as high as $8.31 and last at $7.9850 on ~1.94 million shares, though the stock was reported down about 1.4% on the day.
• The company posted quarterly EPS of $0.22 (in line with estimates) and revenue of $599.9M (well above consensus), and raised its quarterly dividend to $0.1762—an annualized 8.8% yield—while the dividend payout ratio is roughly 103%.
• Analyst sentiment has cooled with several downgrades from "buy"/"strong-buy" to "hold," leaving a consensus of Moderate Buy, even as institutional investors added new positions and Hafnia's market cap stands near $4.09 billion.

Hafnia Limited (NYSE:HAFN - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $8.31 and last traded at $7.9850, with a volume of 1943109 shares changing hands. The stock had previously closed at $8.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Dnb Carnegie downgraded shares of Hafnia from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 12th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Hafnia in a research report on Wednesday, December 24th. Finally, Wall Street Zen downgraded shares of Hafnia from a "buy" rating to a "hold" rating in a research report on Sunday, March 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Hafnia Stock Down 1.4%

The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 11.74 and a beta of 0.54. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.40. The stock's 50-day moving average price is $7.08 and its 200-day moving average price is $6.32.

Hafnia (NYSE:HAFN - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $599.88 million for the quarter, compared to the consensus estimate 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 declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 6th were given a $0.1762 dividend. This is an increase from Hafnia's previous quarterly dividend of $0.15. The ex-dividend date was Friday, March 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 8.8%. Hafnia's dividend payout ratio is presently 102.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fearnley Asset Management AS acquired a new position in shares of Hafnia in the 4th quarter worth approximately $3,185,000. Aristides Capital LLC bought a new stake in shares of Hafnia in the 4th quarter valued at $179,000. Virtu Financial LLC bought a new stake in shares of Hafnia in the 4th quarter valued at $174,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Hafnia in the 4th quarter valued at $80,000. Finally, Mackenzie Financial Corp increased its stake in shares of Hafnia by 18.3% in the 4th quarter. Mackenzie Financial Corp now owns 240,088 shares of the company's stock valued at $1,297,000 after acquiring an additional 37,138 shares in the last quarter.

About Hafnia

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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