DHT Holdings, Inc. (NYSE:DHT) Receives Average Recommendation of “Buy” from Analysts

Shares of DHT Holdings, Inc. (NYSE:DHT) have been given an average recommendation of “Buy” by the five ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.50.

A number of research firms recently weighed in on DHT. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. BTIG Research assumed coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price objective for the company. StockNews.com lowered DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus decreased their price target on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday.

DHT Price Performance

DHT stock opened at $10.56 on Friday. The company’s 50 day moving average is $11.02 and its two-hundred day moving average is $11.37. The firm has a market cap of $1.70 billion, a PE ratio of 10.05 and a beta of -0.36. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36. DHT has a 52-week low of $9.28 and a 52-week high of $12.80.

DHT (NYSE:DHT) last released its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). DHT had a net margin of 27.45% and a return on equity of 15.19%. The company had revenue of $103.70 million during the quarter, compared to analysts’ expectations of $102.75 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, research analysts expect that DHT will post 1.14 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.08 annualized dividend and a yield of 10.23%. DHT’s dividend payout ratio is presently 102.86%.

Institutional Trading of DHT

A number of large investors have recently made changes to their positions in DHT. Quarry LP lifted its stake in DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,717 shares during the last quarter. Headlands Technologies LLC acquired a new position in DHT in the first quarter valued at $51,000. Summit Securities Group LLC acquired a new stake in shares of DHT during the second quarter worth about $78,000. Nisa Investment Advisors LLC grew its stake in shares of DHT by 52.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after purchasing an additional 2,361 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of DHT during the second quarter worth about $80,000. 58.53% of the stock is owned by institutional investors and hedge funds.

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.