DHT's (DHT) "Buy" Rating Reaffirmed at Jefferies Financial Group

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.

Jefferies Financial Group reissued their buy rating on shares of DHT (NYSE:DHT - Free Report) in a report issued on Thursday morning,Benzinga reports. They currently have a $15.00 price objective on the shipping company's stock.

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

DHT Stock Performance

DHT traded down $0.38 during trading on Thursday, reaching $11.06. 516,064 shares of the company were exchanged, compared to its average volume of 1,775,491. The stock has a market cap of $1.78 billion, a P/E ratio of 9.37 and a beta of 0.02. The firm has a 50 day moving average of $11.30 and a 200 day moving average of $10.99. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. DHT has a 52 week low of $8.67 and a 52 week high of $12.32.

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

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 18th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from DHT's previous quarterly dividend of $0.17. This represents a $0.96 annualized dividend and a yield of 8.7%. DHT's payout ratio is presently 81.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DHT. GAMMA Investing LLC increased its position in DHT by 81.5% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock worth $25,000 after purchasing an additional 1,073 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of DHT by 84.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock worth $26,000 after acquiring an additional 1,265 shares in the last quarter. Roble Belko & Company Inc bought a new stake in shares of DHT during the 2nd quarter worth about $30,000. CWM LLC boosted its stake in DHT by 223.4% during the 1st quarter. CWM LLC now owns 3,063 shares of the shipping company's stock valued at $32,000 after purchasing an additional 2,116 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in DHT by 190.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company's stock valued at $33,000 after purchasing an additional 1,982 shares during the period. 58.53% of the stock is owned by institutional investors and hedge funds.

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.