TORM (NASDAQ:TRMD) Shares Up 0% – Still a Buy?

Shares of TORM plc (NASDAQ:TRMD) rose 0% during trading on Friday . The stock traded as high as $30.11 and last traded at $29.91. Approximately 139,435 shares changed hands during trading, a decline of 81% from the average daily volume of 719,053 shares. The stock had previously closed at $29.90.

Wall Street Analysts Forecast Growth

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

TORM Price Performance

The company has a market capitalization of $2.45 billion, a PE ratio of 3.79 and a beta of 0.24. The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53. The firm’s 50 day simple moving average is $34.61 and its 200 day simple moving average is $35.83.

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

TORM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were issued a dividend of $1.80 per share. This is an increase from TORM’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 23.98%. TORM’s payout ratio is 66.29%.

Institutional Trading of TORM

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new position in shares of TORM in the 2nd quarter valued at about $26,000. Fifth Third Bancorp purchased a new position in shares of TORM during the 2nd quarter valued at approximately $43,000. Syquant Capital Sas purchased a new position in shares of TORM during the 2nd quarter valued at approximately $46,000. Headlands Technologies LLC acquired a new position in shares of TORM in the 1st quarter valued at $51,000. Finally, Point72 Hong Kong Ltd acquired a new stake in TORM during the second quarter valued at $78,000. Institutional investors and hedge funds 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.