TORM (NASDAQ:TRMD) Trading Down 2.8% - Should You Sell?

TORM plc (NASDAQ:TRMD - Get Free Report) shares dropped 2.8% during mid-day trading on Monday . The stock traded as low as $18.08 and last traded at $18.12. Approximately 370,679 shares traded hands during trading, a decline of 61% from the average daily volume of 955,091 shares. The stock had previously closed at $18.65.

Wall Street Analysts Forecast Growth

TRMD has been the topic of several recent analyst reports. Kepler Capital Markets downgraded shares of TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th. Pareto Securities upgraded shares of TORM from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Fearnley Fonds upgraded shares of TORM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Evercore ISI cut their price target on shares of TORM from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.50.

TORM Trading Down 2.1%

The company's fifty day moving average is $16.64 and its two-hundred day moving average is $18.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 2.36 and a beta of 0.13.

TORM (NASDAQ:TRMD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.02). The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. TORM had a return on equity of 34.45% and a net margin of 43.81%. On average, research analysts anticipate that TORM plc will post 6.27 EPS for the current year.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.76%. TORM's payout ratio is 24.47%.

Institutional Investors Weigh In On TORM

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of TORM by 39.9% during the 1st quarter. NewEdge Advisors LLC now owns 16,740 shares of the company's stock worth $276,000 after purchasing an additional 4,776 shares during the period. Royal Bank of Canada grew its stake in shares of TORM by 1,346.6% during the 1st quarter. Royal Bank of Canada now owns 87,285 shares of the company's stock worth $1,438,000 after purchasing an additional 81,251 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of TORM during the 1st quarter worth approximately $69,000. Compound Planning Inc. grew its stake in shares of TORM by 22.4% during the 1st quarter. Compound Planning Inc. now owns 23,603 shares of the company's stock worth $389,000 after purchasing an additional 4,312 shares during the period. Finally, Fox Run Management L.L.C. grew its stake in shares of TORM by 74.0% during the 1st quarter. Fox Run Management L.L.C. now owns 26,260 shares of the company's stock worth $433,000 after purchasing an additional 11,172 shares during the period. Institutional investors and hedge funds 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.