Fearnley Fonds cut shares of Torm (NASDAQ:TRMD - Free Report) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.
A number of other brokerages also recently issued reports on TRMD. Pareto Securities downgraded Torm from a "buy" rating to a "hold" rating in a research 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 analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Torm has a consensus rating of "Hold" and an average target price of $27.50.
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Torm Trading Down 2.0%
TRMD stock traded down $0.48 during midday trading on Wednesday, reaching $22.92. 202,868 shares of the company traded hands, compared to its average volume of 925,583. Torm has a 52-week low of $13.60 and a 52-week high of $36.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.30 and a current ratio of 2.57. The business has a 50 day moving average of $19.41 and a 200-day moving average of $17.91. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 6.95 and a beta of 0.12.
Torm (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Torm had a return on equity of 15.73% and a net margin of 24.90%.The business had revenue of $208.20 million for the quarter, compared to the consensus estimate of $207.58 million. As a group, sell-side analysts expect that Torm will post 6.27 earnings per share for the current fiscal year.
Torm Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 annualized dividend and a yield of 7.0%. Torm's dividend payout ratio is 35.45%.
Institutional Trading of Torm
Several hedge funds and other institutional investors have recently bought and sold shares of TRMD. Norges Bank bought a new stake in Torm during the 2nd quarter valued at $20,998,000. Brevan Howard Capital Management LP bought a new stake in Torm during the 2nd quarter valued at $7,523,000. Lind Value II ApS bought a new stake in Torm during the 2nd quarter valued at $7,283,000. Millennium Management LLC boosted its position in Torm by 439.0% during the 4th quarter. Millennium Management LLC now owns 430,399 shares of the company's stock valued at $8,371,000 after acquiring an additional 350,555 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Torm by 353.5% during the 4th quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock valued at $3,613,000 after acquiring an additional 262,149 shares in the last quarter. Institutional investors own 73.89% of the company's stock.
Torm Company Profile
(
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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.
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