DHT (NYSE:DHT) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

DHT (NYSE:DHT) released its earnings results on Wednesday. The shipping company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.07, FiscalAI reports. DHT had a net margin of 58.54% and a return on equity of 27.54%. The firm had revenue of $254.96 million during the quarter, compared to the consensus estimate of $247.17 million. During the same period in the previous year, the firm earned $0.35 earnings per share. DHT’s revenue was up 174.8% compared to the same quarter last year.

DHT Stock Down 1.1%

DHT stock traded down $0.20 during midday trading on Wednesday, hitting $17.94. 4,295,991 shares of the company were exchanged, compared to its average volume of 2,639,140. The company has a market cap of $2.89 billion, a PE ratio of 8.71 and a beta of -0.11. DHT has a fifty-two week low of $10.69 and a fifty-two week high of $20.55. The company’s fifty day moving average price is $17.70 and its 200-day moving average price is $17.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62.

Institutional Investors Weigh In On DHT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 1,596 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of DHT during the 3rd quarter valued at approximately $60,000. Zions Bancorporation National Association UT acquired a new stake in shares of DHT during the fourth quarter worth approximately $65,000. Xponance LLC bought a new stake in shares of DHT in the fourth quarter worth $128,000. Finally, Quadrature Capital Ltd bought a new stake in shares of DHT in the 4th quarter worth about $135,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DHT shares. Evercore lowered shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target on the stock. in a report on Wednesday, April 22nd. BTIG Research raised their price target on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings cut shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, DHT presently has an average rating of “Moderate Buy” and an average target price of $19.33.

DHT Company Profile

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.