DHT (NYSE:DHT) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

DHT (NYSE:DHT) issued its quarterly earnings results on Monday. The shipping company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.15, FiscalAI reports. The company had revenue of $290.34 million during the quarter, compared to analysts’ expectations of $265.35 million. DHT had a net margin of 73.81% and a return on equity of 53.69%.

DHT Trading Up 4.3%

Shares of DHT stock opened at $21.70 on Wednesday. DHT has a 12-month low of $11.64 and a 12-month high of $26.91. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $22.86 and its 200-day moving average is $18.97. The stock has a market cap of $3.49 billion, a P/E ratio of 4.97 and a beta of -0.03.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be paid a dividend of $1.45 per share. The ex-dividend date is Monday, November 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 26.7%. This is an increase from DHT’s previous quarterly dividend of $1.22. DHT’s dividend payout ratio (DPR) is currently 165.99%.

More DHT News

Here are the key news stories impacting DHT this week:

• Positive Sentiment: DHT earned $1.45 per share, beating the $1.30 consensus estimate, while revenue of $290.34 million exceeded expectations of $265.35 million. The company also reported a $270.9 million profit. DHT Q3 Earnings, Revenue Rise
• Positive Sentiment: The quarterly dividend was raised 18.9%, from $1.22 to $1.45 per share, signaling a larger payout to shareholders. DHT Reports Q3 Profit and Declares Dividend
• Neutral Sentiment: DHT ordered another VLCC from Hanwha, adding to its newbuilding program. The order supports fleet renewal but also entails future investment. DHT doubles down at Hanwha with fresh VLCC order
• Negative Sentiment: Despite record-level profit and strong reported fourth-quarter VLCC rates, DHT shares declined, a move that analysts described as puzzling. The broader mood toward the tanker market has turned more bearish, suggesting investors may be weighing concerns about the outlook against current strong results. DHT stock drop puzzles analysts as profit hits record level

Analysts Set New Price Targets

DHT has been the subject of several recent research reports. BTIG Research increased their target price on shares of DHT from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Weiss Ratings upgraded shares of DHT from a “buy (b+)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Finally, Evercore set a $26.00 price target on shares of DHT in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Insider Activity

In other news, Director Sophie Rossini sold 33,000 shares of DHT stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $20.04, for a total value of $661,320.00. Following the completion of the transaction, the director owned 78,543 shares of the company’s stock, valued at $1,574,001.72. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Eglin sold 25,000 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $21.00, for a total transaction of $525,000.00. Following the transaction, the insider owned 274,622 shares in the company, valued at $5,767,062. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 554,007 shares of company stock valued at $11,287,402.

DHT Company Profile

DHT Holdings, Inc. is an independent crude oil tanker company that owns and operates vessels used to transport crude oil by sea. Its fleet consists primarily of very large crude carriers (VLCCs), which move large volumes of oil between production regions, refineries and other destinations. DHT’s vessels serve the global crude oil trade, operating on routes around the world. The company employs a mix of voyage and time charters, providing transportation services to oil companies, traders and other customers.