DHT (NYSE:DHT) Reaches New 12-Month Low – What’s Next?

Shares of DHT Holdings, Inc. (NYSE:DHT) hit a new 52-week low during trading on Tuesday . The stock traded as low as $8.67 and last traded at $8.75, with a volume of 166748 shares. The stock had previously closed at $8.94.

Analyst Ratings Changes

A number of research firms have recently issued reports on DHT. BTIG Research assumed coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price for the company. Stifel Nicolaus lowered their target price on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a research note on Thursday, December 12th. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Fearnley Fonds upgraded DHT to a “strong-buy” rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Trading Down 0.1 %

The stock has a 50 day moving average price of $10.28 and a 200-day moving average price of $10.88. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.45 billion, a PE ratio of 8.99 and a beta of -0.37.

DHT (NYSE:DHT) last announced its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $92.64 million for the quarter, compared to the consensus estimate of $87.51 million. DHT had a return on equity of 15.58% and a net margin of 27.72%. DHT’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 EPS. Sell-side analysts expect that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 9.79%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio (DPR) is presently 88.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in DHT by 41,626.3% in the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock valued at $91,000 after buying an additional 7,909 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in DHT by 12.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 466,751 shares of the shipping company’s stock worth $5,400,000 after buying an additional 51,522 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of DHT in the 2nd quarter valued at about $376,000. Summit Securities Group LLC acquired a new position in shares of DHT in the 2nd quarter valued at about $78,000. Finally, TrueMark Investments LLC acquired a new stake in shares of DHT in the 2nd quarter worth about $4,371,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.