Torm Plc (NASDAQ:TRMD) Receives $34.00 Consensus PT from Brokerages

Torm Plc (NASDAQ:TRMD) has earned an average recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of research analysts have issued reports on TRMD shares. Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. Wall Street Zen upgraded shares of Torm from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Evercore reissued an “outperform” rating and set a $34.00 price objective on shares of Torm in a report on Thursday, February 26th.

Torm Price Performance

Shares of NASDAQ TRMD opened at $28.67 on Friday. Torm has a fifty-two week low of $13.60 and a fifty-two week high of $31.76. The company has a market cap of $2.69 billion, a PE ratio of 10.10 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.33. The business has a 50-day simple moving average of $24.70 and a two-hundred day simple moving average of $22.58.

Torm (NASDAQ:TRMD) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $347.60 million for the quarter, compared to the consensus estimate of $236.21 million. Torm had a net margin of 21.29% and a return on equity of 13.26%. As a group, equities analysts expect that Torm will post 6.27 EPS for the current fiscal year.

Torm Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 9.8%. The ex-dividend date is Thursday, March 12th. This is a boost from Torm’s previous quarterly dividend of $0.62. Torm’s dividend payout ratio (DPR) is presently 63.73%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in shares of Torm by 2.6% during the third quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock worth $373,000 after purchasing an additional 459 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Torm by 1.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company’s stock worth $615,000 after buying an additional 477 shares during the period. Geode Capital Management LLC raised its position in Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock worth $1,385,000 after buying an additional 611 shares during the last quarter. Glenorchy Capital Ltd raised its position in Torm by 3.5% during the 2nd quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company’s stock worth $494,000 after buying an additional 1,003 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in Torm by 6.7% during the 4th quarter. Virtu Financial LLC now owns 17,170 shares of the company’s stock valued at $336,000 after acquiring an additional 1,076 shares during the period. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.