Jefferies Financial Group Reaffirms "Buy" Rating for DHT (NYSE:DHT)

Key Points

• Jefferies Financial Group has reaffirmed a "Buy" rating for DHT Holdings Inc. with a new price target of $15.00, suggesting a potential upside of 30.03% from its previous close.
• Evercore ISI lowered their price target for DHT from $14.00 to $13.00, while the consensus rating remains "Moderate Buy" with an average target price of $12.94.
• DHT reported quarterly earnings of $0.35 per share, exceeding expectations, although revenue declined 10.5% year-over-year to $92.80 million.

DHT (NYSE:DHT - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Jefferies Financial Group in a report released on Thursday,Benzinga reports. They presently have a $15.00 price objective on the shipping company's stock. Jefferies Financial Group's target price would suggest a potential upside of 30.03% from the company's previous close.

Separately, Evercore ISI cut their price target on DHT from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.94.

DHT Trading Down 1.8%

DHT opened at $11.54 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.59 and a quick ratio of 1.29. DHT has a fifty-two week low of $8.67 and a fifty-two week high of $12.32. The company's 50 day moving average price is $11.30 and its two-hundred day moving average price is $10.97. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 10.49 and a beta of 0.02.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The shipping company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.12. The firm had revenue of $92.80 million for the quarter, compared to the consensus estimate of $95.41 million. DHT had a net margin of 32.87% and a return on equity of 17.08%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 EPS. As a group, research analysts predict that DHT will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On DHT

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in DHT by 37.3% during the 4th quarter. JPMorgan Chase & Co. now owns 454,647 shares of the shipping company's stock valued at $4,224,000 after acquiring an additional 123,599 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of DHT by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 53,610 shares of the shipping company's stock valued at $498,000 after purchasing an additional 1,740 shares in the last quarter. Geode Capital Management LLC boosted its holdings in DHT by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,657,699 shares of the shipping company's stock worth $15,400,000 after purchasing an additional 5,603 shares during the last quarter. Wells Fargo & Company MN grew its position in DHT by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 100,829 shares of the shipping company's stock worth $937,000 after purchasing an additional 30,600 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in DHT by 0.4% in the 4th quarter. Russell Investments Group Ltd. now owns 552,680 shares of the shipping company's stock valued at $5,134,000 after buying an additional 2,277 shares during the last quarter. Institutional investors own 58.53% of the company's stock.

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.

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