DHT (NYSE:DHT) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

DHT (NYSE:DHT - Get Free Report) announced its quarterly earnings results on Tuesday. The shipping company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.02), Briefing.com reports. The company had revenue of $106.30 million for the quarter, compared to analyst estimates of $106.87 million. DHT had a return on equity of 15.52% and a net margin of 28.78%. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share.

DHT Stock Up 0.5 %

Shares of DHT stock traded up $0.06 during midday trading on Wednesday, hitting $12.28. The company's stock had a trading volume of 3,440,010 shares, compared to its average volume of 1,810,746. The firm has a market capitalization of $1.98 billion, a P/E ratio of 12.38 and a beta of -0.34. The stock has a 50-day simple moving average of $11.43 and a 200-day simple moving average of $10.88. The company has a quick ratio of 2.94, a current ratio of 3.54 and a debt-to-equity ratio of 0.39. DHT has a 1-year low of $7.60 and a 1-year high of $12.45.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 24th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 9.45%. The ex-dividend date is Thursday, May 23rd. This is a boost from DHT's previous quarterly dividend of $0.22. DHT's dividend payout ratio (DPR) is 88.89%.

Analyst Ratings Changes

Several analysts recently commented on the company. Jefferies Financial Group upgraded DHT from a "hold" rating to a "buy" rating and raised their target price for the company from $11.00 to $14.00 in a research report on Thursday, March 21st. Truist Financial lifted their price target on DHT from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 16th. TheStreet raised DHT from a "c+" rating to a "b-" rating in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus reissued a "hold" rating and set a $12.00 price objective on shares of DHT in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.33.

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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