DHT (NYSE:DHT) Announces Quarterly Earnings Results

DHT (NYSE:DHT) posted its earnings results on Tuesday. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02, Briefing.com reports. The business had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share.

DHT Stock Performance

Shares of DHT stock traded up $0.42 on Wednesday, hitting $10.57. 408,595 shares of the stock traded hands, compared to its average volume of 1,819,839. The company has a market capitalization of $1.71 billion, a PE ratio of 10.82 and a beta of -0.36. The company’s fifty day moving average is $10.90 and its 200 day moving average is $11.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33. DHT has a 1-year low of $9.28 and a 1-year high of $12.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DHT shares. StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. BTIG Research initiated coverage on DHT in a research report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Finally, Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.50.

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.