Torm (NASDAQ:TRMD) Trading Down 2.8% - Here's Why

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

Analyst Upgrades and Downgrades

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

Torm Stock Up 0.9%

The business's 50 day moving average is $16.87 and its 200-day moving average is $18.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.28 and a current ratio of 2.55. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 4.05 and a beta of 0.13.

Torm (NASDAQ:TRMD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.02). Torm had a net margin of 32.20% and a return on equity of 22.40%. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. Equities analysts anticipate that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 8.33%. The ex-dividend date of this dividend was Thursday, May 22nd. Torm's dividend payout ratio (DPR) is presently 24.68%.

Institutional Trading of Torm

A number of hedge funds have recently bought and sold shares of TRMD. Y Intercept Hong Kong Ltd boosted its holdings in Torm by 174.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 43,219 shares of the company's stock valued at $841,000 after purchasing an additional 27,465 shares during the period. U S Global Investors Inc. boosted its holdings in Torm by 26.3% in the 4th quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock valued at $245,000 after purchasing an additional 2,625 shares during the period. Jones Financial Companies Lllp boosted its holdings in Torm by 49.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after purchasing an additional 1,939 shares during the period. SBI Securities Co. Ltd. bought a new stake in Torm in the 4th quarter valued at $1,093,000. Finally, Swiss National Bank boosted its holdings in Torm by 11.2% in the 4th quarter. Swiss National Bank now owns 113,760 shares of the company's stock valued at $2,191,000 after purchasing an additional 11,469 shares during the period. 73.89% of the stock is owned by institutional investors.

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.