Zacks Investment Research Downgrades DHT Holdings Inc. (DHT) to Sell
DHT Holdings Inc. (NYSE:DHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
Other equities analysts have also recently issued reports about the stock. Jefferies Group reissued a “buy” rating on shares of DHT Holdings in a research note on Monday, August 22nd. Morgan Stanley set a $7.00 price target on shares of DHT Holdings and gave the stock a “buy” rating in a research note on Wednesday, August 10th. TheStreet cut shares of DHT Holdings from a “buy” rating to a “hold” rating in a research note on Monday, September 19th. Finally, Wells Fargo & Co. assumed coverage on shares of DHT Holdings in a research note on Monday, September 26th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.78.
Shares of DHT Holdings (NYSE:DHT) opened at 4.21 on Tuesday. The firm has a 50-day moving average of $4.25 and a 200-day moving average of $5.07. DHT Holdings has a one year low of $4.00 and a one year high of $8.47. The stock has a market cap of $393.07 million, a PE ratio of 3.45 and a beta of 1.00.
DHT Holdings (NYSE:DHT) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. DHT Holdings had a net margin of 33.81% and a return on equity of 17.09%. The business earned $83.20 million during the quarter, compared to analysts’ expectations of $82.44 million. During the same period last year, the company posted $0.24 EPS. The business’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts expect that DHT Holdings will post $1.02 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Aperio Group LLC raised its stake in shares of DHT Holdings by 139.7% in the first quarter. Aperio Group LLC now owns 207,699 shares of the company’s stock worth $1,196,000 after buying an additional 121,049 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of DHT Holdings by 217.0% in the first quarter. Prudential Financial Inc. now owns 518,000 shares of the company’s stock worth $2,984,000 after buying an additional 354,600 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of DHT Holdings during the first quarter worth $2,869,000. Mount Lucas Management LP raised its stake in shares of DHT Holdings by 18.5% in the first quarter. Mount Lucas Management LP now owns 151,750 shares of the company’s stock worth $874,000 after buying an additional 23,700 shares during the last quarter. Finally, James Investment Research Inc. bought a new stake in shares of DHT Holdings during the second quarter worth $594,000. Institutional investors own 67.66% of the company’s stock.
About DHT Holdings
DHT Holdings, Inc (DHT) is a holding company. The Company, through its subsidiaries, owns and operates a fleet of crude oil tankers. Its fleet consists of approximately 20 crude oil tankers in operation, all of which are owned by the company. The Company’s fleet in operation consists of over 20 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (DWTs), approximately one Suezmax tanker (Suezmax), which is a tanker ranging in size from 130,000 to 170,000 DWT and over two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 DWT.
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