Torm Plc (NASDAQ:TRMD - Get Free Report)'s stock price dropped 3.9% during mid-day trading on Tuesday . The stock traded as low as $17.49 and last traded at $17.52. Approximately 402,635 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 960,430 shares. The stock had previously closed at $18.23.
Analyst Ratings Changes
TRMD has been the subject of a number of analyst reports. Fearnley Fonds upgraded Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Pareto Securities raised shares of Torm from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Kepler Capital Markets cut Torm from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Finally, Evercore ISI decreased their price target on Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.50.
Get Our Latest Stock Report on TRMD
Torm Price Performance
The firm has a 50-day moving average price of $17.11 and a 200-day moving average price of $18.14. 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 stock has a market cap of $1.61 billion, a P/E ratio of 3.60 and a beta of 0.13.
Torm (NASDAQ:TRMD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.02). The business had revenue of $214.00 million during the quarter, compared to analysts' expectations of $244.25 million. Torm had a return on equity of 22.40% and a net margin of 32.20%. On average, analysts forecast that Torm Plc will post 6.27 earnings per share for the current fiscal year.
Torm Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 9.37%. The ex-dividend date of this dividend was Thursday, May 22nd. Torm's dividend payout ratio is currently 24.68%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd boosted its stake in shares of Torm by 174.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 43,219 shares of the company's stock worth $841,000 after buying an additional 27,465 shares during the last quarter. U S Global Investors Inc. boosted its holdings in shares of Torm by 26.3% in the fourth quarter. U S Global Investors Inc. now owns 12,620 shares of the company's stock worth $245,000 after buying an additional 2,625 shares during the last quarter. Jones Financial Companies Lllp grew its position in Torm by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after buying an additional 1,939 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Torm during the fourth quarter valued at approximately $1,093,000. Finally, Swiss National Bank raised its position in Torm by 11.2% in the fourth quarter. Swiss National Bank now owns 113,760 shares of the company's stock worth $2,191,000 after acquiring an additional 11,469 shares during the period. 73.89% of the stock is owned by hedge funds and other institutional investors.
About Torm
(
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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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