DHT (NYSE:DHT) Announces Earnings Results

DHT (NYSE:DHT) released its quarterly earnings data on Tuesday. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02, Briefing.com reports. DHT had a return on equity of 15.19% and a net margin of 27.45%. The business had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same period in the prior year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year.

DHT Stock Performance

Shares of DHT stock traded up $0.36 during trading hours on Wednesday, hitting $10.51. 167,015 shares of the company were exchanged, compared to its average volume of 1,818,741. The business has a 50-day moving average of $10.90 and a 200-day moving average of $11.28. DHT has a 1 year low of $9.28 and a 1 year high of $12.80. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 10.48 and a beta of -0.36.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BTIG Research initiated coverage on DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus reduced their price objective on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.