TORM (NASDAQ:TRMD) Shares Down 2.8% – Should You Sell?

TORM plc (NASDAQ:TRMD) was down 2.8% during trading on Monday . The stock traded as low as $18.08 and last traded at $18.12. Approximately 370,679 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 955,091 shares. The stock had previously closed at $18.65.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TRMD shares. Kepler Capital Markets lowered shares of TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th. Fearnley Fonds raised shares of TORM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Pareto Securities raised shares of TORM from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Finally, Evercore ISI decreased their price target on shares of TORM from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.50.

TORM Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The business’s 50 day simple moving average is $16.57 and its 200-day simple moving average is $18.23. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 2.38 and a beta of 0.13.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). The company had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. TORM had a return on equity of 34.45% and a net margin of 43.81%. Research analysts anticipate that TORM plc will post 6.27 earnings per share for the current year.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 22nd were issued a $0.40 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.70%. TORM’s payout ratio is currently 24.47%.

Institutional Investors Weigh In On TORM

Large investors have recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of TORM during the first quarter valued at approximately $69,000. CWM LLC boosted its position in TORM by 1,712.3% during the 1st quarter. CWM LLC now owns 5,292 shares of the company’s stock worth $87,000 after acquiring an additional 5,000 shares during the period. Jones Financial Companies Lllp boosted its position in TORM by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock worth $114,000 after acquiring an additional 1,939 shares during the period. Hibernia Wealth Partners LLC acquired a new stake in TORM during the 1st quarter worth about $167,000. Finally, Larson Financial Group LLC boosted its position in TORM by 4,694.8% during the 1st quarter. Larson Financial Group LLC now owns 10,213 shares of the company’s stock worth $168,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds own 73.89% of the company’s stock.

About TORM

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.