DHT (DHT) Lowered to “Sell” at Zacks Investment Research
DHT (NYSE:DHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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 analysts also recently weighed in on DHT. ValuEngine upgraded DHT from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Jefferies Group restated a “buy” rating on shares of DHT in a research note on Thursday, October 19th. Stifel Nicolaus set a $5.00 price target on DHT and gave the company a “hold” rating in a research note on Sunday, October 29th. Maxim Group set a $7.00 price target on DHT and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, TheStreet upgraded DHT from a “d+” rating to a “c-” rating in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.00.
DHT (NYSE:DHT) last posted its quarterly earnings results on Monday, November 13th. The shipping company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.04. DHT had a return on equity of 4.84% and a net margin of 9.68%. The firm had revenue of $54.80 million for the quarter, compared to the consensus estimate of $50.43 million. During the same period in the previous year, the business earned ($0.81) earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. research analysts expect that DHT will post 0.19 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC boosted its position in DHT by 16.8% during the second quarter. Voya Investment Management LLC now owns 46,770 shares of the shipping company’s stock worth $194,000 after purchasing an additional 6,737 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in DHT by 11.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 70,615 shares of the shipping company’s stock worth $293,000 after purchasing an additional 7,388 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in DHT by 438.1% during the third quarter. Cubist Systematic Strategies LLC now owns 77,744 shares of the shipping company’s stock worth $309,000 after purchasing an additional 63,295 shares in the last quarter. B. Riley Financial Inc. purchased a new stake in DHT during the third quarter worth $490,000. Finally, Caxton Associates LP boosted its position in DHT by 25.0% during the second quarter. Caxton Associates LP now owns 250,000 shares of the shipping company’s stock worth $1,038,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 35.70% of the company’s stock.
DHT Holdings, Inc is an independent crude oil tanker company. The Company’s fleet trades internationally and consists of crude oil tankers in the very large crude carriers (VLCC) and Aframax segments. As of December 1, 2017, the Company’s fleet consisted of 27 crude oil tankers in operation; 25 VLCCs, which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers, which are tankers ranging in size from 80,000 to 120,000 dwt.
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