Hafnia (NYSE:HAFN) Reaches New 12-Month High - What's Next?

Key Points

• Hafnia shares reached a new 52-week high, trading as high as $9.84 and last changing hands near $9.71, well above its 50-day and 200-day moving averages.
• The company beat quarterly expectations with EPS of $0.56 versus a $0.54 consensus and revenue of $834.53 million, more than double estimates. Analysts collectively rate the stock “Moderate Buy,” though Pareto Securities downgraded it to “Hold.”
• Hafnia increased its quarterly dividend to $0.5003 per share, implying an annualized payout of about $2.00 and a 20.6% yield; however, its dividend payout ratio is elevated at 151.52%.

Hafnia Limited (NYSE:HAFN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.84 and last traded at $9.7080, with a volume of 2281851 shares. The stock had previously closed at $9.48.

Analyst Ratings Changes

Several research firms recently weighed in on HAFN. Pareto Securities cut shares of Hafnia to a "hold" rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Hafnia from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen upgraded shares of Hafnia from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Hafnia currently has an average rating of "Moderate Buy".

Hafnia Price Performance

The business has a fifty day moving average of $8.02 and a two-hundred day moving average of $7.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 7.35 and a beta of 0.65.

Hafnia (NYSE:HAFN - Get Free Report) last announced its quarterly earnings results on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. Hafnia had a return on equity of 26.74% and a net margin of 56.72%.The business had revenue of $834.53 million during the quarter, compared to the consensus estimate of $394.57 million.

Hafnia Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.5003 per share. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.6%. This is a boost from Hafnia's previous quarterly dividend of $0.29. Hafnia's dividend payout ratio is 151.52%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HAFN. Blue Trust Inc. bought a new stake in shares of Hafnia during the first quarter worth approximately $48,000. Aristides Capital LLC acquired a new stake in Hafnia during the 4th quarter worth approximately $179,000. Shariaportfolio Inc. bought a new stake in Hafnia in the 1st quarter valued at $273,000. Squarepoint Ops LLC bought a new stake in Hafnia in the 2nd quarter valued at $410,000. Finally, Quantinno Capital Management LP boosted its stake in Hafnia by 7.0% in the 1st quarter. Quantinno Capital Management LP now owns 55,859 shares of the company's stock valued at $425,000 after purchasing an additional 3,639 shares during the period.

Hafnia Company Profile

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.

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