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

DHT Holdings, Inc. (NYSE:DHT) has received a consensus rating of “Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.50.

A number of equities research analysts have weighed in on the company. Fearnley Fonds raised DHT to a “strong-buy” rating in a research report on Friday, September 27th. BTIG Research assumed coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. Stifel Nicolaus decreased their target price on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $14.00 target price on shares of DHT in a research report on Wednesday, November 13th. Finally, StockNews.com raised DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

DHT Stock Performance

NYSE DHT opened at $10.64 on Wednesday. The stock has a market capitalization of $1.72 billion, a PE ratio of 10.64 and a beta of -0.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The business has a 50 day simple moving average of $10.93 and a two-hundred day simple moving average of $11.25. DHT has a 1-year low of $9.28 and a 1-year high of $12.80.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. DHT had a return on equity of 15.58% and a net margin of 27.72%. The firm had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts predict that DHT will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.27%. DHT’s payout ratio is currently 108.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DHT. Quarry LP boosted its position in shares of DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after buying an additional 3,717 shares during the period. Sunbelt Securities Inc. purchased a new position in DHT in the third quarter valued at $50,000. Summit Securities Group LLC purchased a new position in DHT in the second quarter valued at $78,000. Nisa Investment Advisors LLC boosted its holdings in DHT by 52.2% in the third 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 period. Finally, Point72 Hong Kong Ltd purchased a new position in DHT in the second quarter valued at $80,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Company Profile

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.