DHT Holdings Inc. (DHT) Downgraded by Zacks Investment Research
DHT Holdings Inc. (NYSE:DHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “
A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Co. began coverage on DHT Holdings in a report on Monday, September 26th. They set a “market perform” rating on the stock. TheStreet cut DHT Holdings from a “buy” rating to a “hold” rating in a report on Monday, September 19th. Jefferies Group reissued a “buy” rating on shares of DHT Holdings in a report on Monday, September 12th. Finally, Morgan Stanley cut DHT Holdings from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $7.00 to $5.50 in a report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.78.
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Shares of DHT Holdings (NYSE:DHT) traded down 1.59% during trading on Tuesday, reaching $4.33. The company’s stock had a trading volume of 1,446,495 shares. The stock has a market cap of $404.27 million, a price-to-earnings ratio of 3.55 and a beta of 1.00. DHT Holdings has a 52-week low of $4.00 and a 52-week high of $8.48. The stock’s 50 day moving average price is $4.30 and its 200-day moving average price is $5.08.
DHT Holdings (NYSE:DHT) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. DHT Holdings had a return on equity of 17.09% and a net margin of 33.81%. The firm had revenue of $83.20 million for the quarter, compared to analysts’ expectations of $82.44 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that DHT Holdings will post $1.02 EPS for the current year.
Several large investors have recently modified their holdings of DHT. Glendon Capital Management LP acquired a new stake in shares of DHT Holdings during the second quarter worth $567,000. AJO LP raised its stake in shares of DHT Holdings by 40.2% in the second quarter. AJO LP now owns 1,886,459 shares of the company’s stock worth $9,489,000 after buying an additional 540,804 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of DHT Holdings by 99.6% in the second quarter. Prudential Financial Inc. now owns 1,034,100 shares of the company’s stock worth $5,202,000 after buying an additional 516,100 shares in the last quarter. Kennedy Capital Management Inc. acquired a new stake in shares of DHT Holdings during the first quarter worth $2,869,000. Finally, Allianz Asset Management AG raised its stake in shares of DHT Holdings by 34.2% in the second quarter. Allianz Asset Management AG now owns 1,945,209 shares of the company’s stock worth $9,785,000 after buying an additional 496,095 shares in the last quarter. Hedge funds and other 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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