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 report issued on Wednesday.
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 research analysts have also recently issued reports about the company. BidaskClub cut DHT Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Jefferies Group LLC restated a “buy” rating on shares of DHT Holdings in a research note on Thursday, October 19th. ValuEngine upgraded DHT Holdings from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and set a $5.25 price objective on shares of DHT Holdings in a research note on Friday, July 7th. Finally, Maxim Group set a $7.00 price objective on DHT Holdings and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.00.
DHT Holdings (DHT) traded down 1.01% during trading on Wednesday, reaching $3.93. The company’s stock had a trading volume of 393,974 shares. DHT Holdings has a 12-month low of $3.29 and a 12-month high of $5.20. The firm’s 50-day moving average price is $3.98 and its 200 day moving average price is $4.15. The company’s market capitalization is $559.42 million.
DHT Holdings (NYSE:DHT) last issued its earnings results on Tuesday, August 8th. The shipping company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. DHT Holdings had a positive return on equity of 6.07% and a negative net margin of 12.48%. The business had revenue of $59.63 million during the quarter, compared to analysts’ expectations of $58.47 million. On average, analysts predict that DHT Holdings will post $0.22 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of DHT. WealthTrust Axiom LLC purchased a new stake in shares of DHT Holdings during the 2nd quarter worth $102,000. Legal & General Group Plc increased its position in DHT Holdings by 1.1% during the 1st quarter. Legal & General Group Plc now owns 24,683 shares of the shipping company’s stock valued at $110,000 after buying an additional 260 shares in the last quarter. FNY Partners Fund LP acquired a new position in DHT Holdings during the 1st quarter valued at about $111,000. Bowling Portfolio Management LLC acquired a new position in DHT Holdings during the 1st quarter valued at about $119,000. Finally, Bank of America Corp DE increased its position in DHT Holdings by 87.1% during the 1st quarter. Bank of America Corp DE now owns 26,646 shares of the shipping company’s stock valued at $119,000 after buying an additional 12,407 shares in the last quarter. Hedge funds and other institutional investors own 33.58% of the company’s stock.
About DHT Holdings
DHT Holdings, Inc operates a fleet of crude oil tankers. As of March 21, 2017, the Company’s fleet consisted of 21 crude oil tankers in operation. As of March 21, 2017, the Company’s fleet consisted of 19 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 dwt.
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