DHT Holdings Inc (NYSE:DHT) declared a quarterly dividend on Thursday, November 1st, Fidelity reports. Stockholders of record on Friday, November 16th will be given a dividend of 0.02 per share by the shipping company on Friday, November 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, November 15th.
DHT has increased its dividend payment by an average of 35.7% per year over the last three years. DHT has a dividend payout ratio of -22.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect DHT to earn $0.18 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 44.4%.
DHT stock opened at $5.07 on Friday. DHT has a 12 month low of $3.27 and a 12 month high of $5.60. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.78 and a quick ratio of 1.33.
DHT (NYSE:DHT) last announced its earnings results on Thursday, November 1st. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). DHT had a negative net margin of 23.10% and a negative return on equity of 6.95%. The company had revenue of $48.20 million for the quarter, compared to the consensus estimate of $50.07 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, research analysts anticipate that DHT will post -0.23 EPS for the current year.
Several brokerages have issued reports on DHT. TheStreet upgraded shares of DHT from a “d+” rating to a “c” rating in a research report on Thursday, November 1st. Wells Fargo & Co lifted their target price on shares of DHT from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Morgan Stanley lifted their target price on shares of DHT from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Zacks Investment Research upgraded shares of DHT from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday. Finally, ValuEngine upgraded shares of DHT from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Nine investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $6.17.
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DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of February 6, 2018, it had a fleet of 27 very large crude carriers and 2 Aframaxes with deadweight tons of 8,590,740. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.
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