DHT (NYSE:DHT) Announces Earnings Results, Misses Expectations By $0.01 EPS

DHT (NYSE:DHT) posted its quarterly earnings data on Monday. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01), Briefing.com reports. DHT had a return on equity of 16.34% and a net margin of 29.58%. The firm had revenue of $103.70 million for the quarter, compared to analysts’ expectations of $102.75 million. During the same period in the prior year, the firm earned $0.35 earnings per share. DHT’s revenue was down 8.2% compared to the same quarter last year.

DHT Stock Performance

NYSE:DHT traded up $0.19 during trading hours on Wednesday, reaching $10.94. The stock had a trading volume of 768,212 shares, compared to its average volume of 1,852,783. The stock has a market cap of $1.76 billion, a P/E ratio of 10.24 and a beta of -0.35. The stock has a 50 day simple moving average of $11.37 and a 200 day simple moving average of $11.41. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.69 and a current ratio of 3.30. DHT has a 12-month low of $8.60 and a 12-month high of $12.80.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend is Friday, August 23rd. DHT’s dividend payout ratio (DPR) is 110.48%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their target price on DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

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.