Torm (NASDAQ:TRMD) Issues Quarterly Earnings Results

Torm (NASDAQ:TRMD) issued its earnings results on Wednesday. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06), FiscalAI reports. The business had revenue of $662.80 million for the quarter, compared to the consensus estimate of $499.01 million. Torm had a return on equity of 15.81% and a net margin of 24.45%.

Torm Stock Performance

Shares of TRMD opened at $31.47 on Wednesday. The company has a market cap of $3.21 billion, a PE ratio of 9.26 and a beta of 0.09. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $29.26 and a 200-day moving average price of $29.13. Torm has a 12-month low of $19.30 and a 12-month high of $35.33.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRMD. Evercore restated an “outperform” rating and set a $37.00 price target on shares of Torm in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of Torm from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Pareto Securities downgraded Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Torm during the third quarter valued at approximately $35,000. Tower Research Capital LLC TRC bought a new position in shares of Torm in the 2nd quarter worth $46,000. Wexford Capital LP purchased a new stake in shares of Torm during the 3rd quarter valued at $120,000. Invesco Ltd. purchased a new stake in shares of Torm during the 2nd quarter valued at $190,000. Finally, Virtus Advisers LLC lifted its holdings in shares of Torm by 356.4% during the 4th quarter. Virtus Advisers LLC now owns 9,858 shares of the company’s stock worth $193,000 after acquiring an additional 7,698 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors.

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.