DHT Holdings, Inc. (NYSE:DHT) Receives $19.33 Consensus Price Target from Brokerages

DHT Holdings, Inc. (NYSE:DHT) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.3333.

DHT has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. BTIG Research raised their target price on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Dnb Carnegie cut shares of DHT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings downgraded shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Finally, Evercore lowered shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, April 22nd.

DHT Price Performance

NYSE:DHT opened at $19.79 on Thursday. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 9.61 and a beta of -0.12. DHT has a 1 year low of $10.61 and a 1 year high of $20.55. The business has a 50 day simple moving average of $17.77 and a 200-day simple moving average of $16.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62.

DHT (NYSE:DHT) last released its earnings results on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $157.20 million for the quarter, compared to the consensus estimate of $152.15 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.The company’s revenue for the quarter was up 134.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were issued a $0.64 dividend. The ex-dividend date was Thursday, May 21st. This is a positive change from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 annualized dividend and a dividend yield of 12.9%. DHT’s dividend payout ratio (DPR) is currently 124.27%.

Hedge Funds Weigh In On DHT

A number of large investors have recently bought and sold shares of DHT. Rathbones Group PLC grew its position in DHT by 53.7% in the 1st quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company’s stock valued at $288,000 after acquiring an additional 5,500 shares during the last quarter. Norris Financial Group LLC bought a new stake in shares of DHT during the first quarter worth $316,000. Western Wealth Management LLC purchased a new stake in shares of DHT during the first quarter valued at $46,000. Bank of America Corp DE grew its holdings in shares of DHT by 168.3% in the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after purchasing an additional 744,130 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of DHT by 6.0% in the first quarter. Empowered Funds LLC now owns 773,163 shares of the shipping company’s stock worth $14,126,000 after purchasing an additional 43,514 shares during the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.