TORM (NASDAQ:TRMD) Stock Price Up 4.6% – Still a Buy?

TORM plc (NASDAQ:TRMD)’s stock price traded up 4.6% during mid-day trading on Tuesday . The company traded as high as $19.09 and last traded at $19.10. 170,972 shares changed hands during trading, a decline of 82% from the average session volume of 955,510 shares. The stock had previously closed at $18.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Pareto Securities raised TORM from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Kepler Capital Markets lowered shares of TORM from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 27th. Fearnley Fonds upgraded TORM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Evercore ISI dropped their target price on TORM from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

TORM Trading Up 4.1%

The stock has a fifty day moving average of $16.64 and a 200-day moving average of $18.21. 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 company has a market cap of $1.79 billion, a PE ratio of 2.46 and a beta of 0.13.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $244.25 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. Sell-side analysts anticipate that TORM plc will post 6.27 EPS for the current fiscal year.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date of this dividend was Thursday, May 22nd. TORM’s dividend payout ratio (DPR) is presently 24.47%.

Institutional Investors Weigh In On TORM

A number of large investors have recently modified their holdings of TRMD. Wealth Preservation Advisors LLC purchased a new stake in shares of TORM during the 1st quarter valued at approximately $69,000. CWM LLC increased its position in shares of TORM by 1,712.3% during the first 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 raised its position in TORM by 49.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after purchasing an additional 1,939 shares in the last quarter. Hibernia Wealth Partners LLC acquired a new stake in TORM in the first quarter valued at approximately $167,000. Finally, Larson Financial Group LLC grew its stake in shares of TORM by 4,694.8% during the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company’s stock worth $168,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors 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.