TORM (NASDAQ:TRMD) Shares Down 0.4% – What’s Next?

Shares of TORM plc (NASDAQ:TRMD) dropped 0.4% during trading on Thursday . The stock traded as low as $29.97 and last traded at $29.98. Approximately 402,147 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 718,974 shares. The stock had previously closed at $30.11.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI boosted their price target on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th.

TORM Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. The business’s fifty day moving average is $34.89 and its 200-day moving average is $35.91.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. During the same period in the prior year, the firm posted $2.14 EPS. On average, research analysts predict that TORM plc will post 7.12 earnings per share for the current year.

TORM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were issued a dividend of $1.80 per share. The ex-dividend date was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 24.02%. This is a boost from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is presently 67.44%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. National Bank of Canada FI acquired a new stake in shares of TORM in the second quarter worth $26,000. Fifth Third Bancorp purchased a new position in TORM in the second quarter valued at about $43,000. Syquant Capital Sas acquired a new position in shares of TORM during the second quarter worth about $46,000. Headlands Technologies LLC purchased a new stake in shares of TORM in the first quarter worth about $51,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of TORM in the second quarter valued at about $78,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

TORM Company Profile

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.