DHT (NYSE:DHT) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of DHT (NYSE:DHTGet Rating) from a hold rating to a sell rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “

DHT has been the subject of several other reports. Jefferies Financial Group began coverage on DHT in a research note on Wednesday. They issued a buy rating for the company. StockNews.com cut DHT from a hold rating to a sell rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, DHT has an average rating of Hold and a consensus price target of $7.83.

NYSE DHT opened at $5.68 on Wednesday. The stock has a fifty day moving average of $5.88 and a 200-day moving average of $5.75. The stock has a market capitalization of $970.13 million, a P/E ratio of -71.00 and a beta of -0.38. DHT has a 52 week low of $4.55 and a 52 week high of $7.19. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.35 and a current ratio of 3.15.

DHT (NYSE:DHTGet Rating) last released its earnings results on Monday, February 7th. The shipping company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. The company had revenue of $49.30 million during the quarter, compared to analysts’ expectations of $45.83 million. DHT had a negative return on equity of 3.66% and a negative net margin of 3.89%. The business’s revenue for the quarter was down 36.6% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. Equities research analysts forecast that DHT will post 0.15 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 17th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, February 16th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.41%. DHT’s dividend payout ratio (DPR) is presently -100.00%.

Institutional investors have recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC acquired a new stake in shares of DHT during the fourth quarter worth $26,000. Ellevest Inc. grew its stake in DHT by 329.5% in the first quarter. Ellevest Inc. now owns 8,238 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 6,320 shares during the period. Verition Fund Management LLC acquired a new position in DHT in the third quarter valued at about $78,000. Bridgefront Capital LLC acquired a new position in DHT in the third quarter valued at about $94,000. Finally, Citigroup Inc. grew its stake in DHT by 120.6% in the third quarter. Citigroup Inc. now owns 16,210 shares of the shipping company’s stock valued at $106,000 after acquiring an additional 8,861 shares during the period. 56.97% of the stock is owned by institutional investors and hedge funds.

DHT Company Profile (Get Rating)

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. As of March 17, 2022, it had a fleet of 26 very large crude carriers with a capacity of 8,043,657 deadweight tons. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.

Featured Stories

Get a free copy of the Zacks research report on DHT (DHT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for DHT (NYSE:DHT)

Receive News & Ratings for DHT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DHT and related companies with MarketBeat.com's FREE daily email newsletter.