Torm (NASDAQ:TRMD) Stock Rating Lowered by Fearnley Fonds

Key Points

• Torm has been downgraded by Fearnley Fonds from a "strong-buy" rating to a "hold" rating, indicating a change in market sentiment.
• The stock currently has a consensus rating of "Hold" among analysts, with a target price of $27.50.
• Torm reported earnings with an EPS of $0.58 for the last quarter, slightly beating estimates, and generated revenue of $208.20 million.

Fearnley Fonds downgraded shares of Torm (NASDAQ:TRMD - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on TRMD. Pareto Securities downgraded shares of Torm from a "buy" rating to a "hold" rating in a report on Tuesday, August 19th. Evercore ISI set a $23.00 target price on Torm and gave the company an "outperform" rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.50.

Torm Stock Performance

Shares of NASDAQ:TRMD traded up $0.38 during midday trading on Wednesday, reaching $23.40. The company had a trading volume of 698,714 shares, compared to its average volume of 929,466. The company's 50 day moving average price is $19.28 and its 200 day moving average price is $17.88. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.20 billion, a P/E ratio of 7.09 and a beta of 0.12. Torm has a 52-week low of $13.60 and a 52-week high of $36.78.

Torm (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. The company had revenue of $208.20 million for the quarter, compared to the consensus estimate of $207.58 million. Torm had a net margin of 24.90% and a return on equity of 15.73%. As a group, sell-side analysts anticipate that Torm will post 6.27 EPS for the current fiscal year.

Torm Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, August 22nd. Torm's payout ratio is currently 35.45%.

Hedge Funds Weigh In On Torm

Several large investors have recently modified their holdings of TRMD. Vanguard Group Inc. increased its holdings in Torm by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company's stock worth $32,688,000 after buying an additional 111,194 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Torm by 52.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company's stock worth $944,000 after buying an additional 20,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Torm in the 1st quarter worth about $184,000. Deutsche Bank AG increased its holdings in Torm by 24.8% in the 1st quarter. Deutsche Bank AG now owns 110,330 shares of the company's stock worth $1,818,000 after buying an additional 21,949 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in Torm by 63.9% in the 1st quarter. CWA Asset Management Group LLC now owns 65,159 shares of the company's stock worth $1,074,000 after buying an additional 25,399 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company's stock.

Torm Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.