Torm Plc (TRMD) to Issue Quarterly Dividend of $0.70 on March 25th

Torm Plc (NASDAQ:TRMD) declared a quarterly dividend on Thursday, February 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of 0.70 per share on Wednesday, March 25th. This represents a c) annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend is Thursday, March 12th. This is a 12.9% increase from Torm’s previous quarterly dividend of $0.62.

Torm has increased its dividend payment by an average of 0.1%per year over the last three years. Torm has a dividend payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Torm to earn $3.58 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 57.0%.

Torm Stock Performance

NASDAQ:TRMD opened at $28.67 on Tuesday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 10.10 and a beta of -0.01. The business has a 50 day moving average of $24.70 and a 200 day moving average of $22.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 1.16. Torm has a 1-year low of $13.60 and a 1-year high of $31.76.

Torm (NASDAQ:TRMD) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.87 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Torm will post 6.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on TRMD. Wall Street Zen raised shares of Torm from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore reissued an “outperform” rating and set a $34.00 price objective on shares of Torm in a research report on Thursday, February 26th. Finally, Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

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.