DHT Holdings, Inc. Announces Quarterly Dividend of $0.22 (NYSE:DHT)

by · The Markets Daily

DHT Holdings, Inc. (NYSE:DHT – Get Free Report) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, November 22nd will be given a dividend of 0.22 per share by the shipping company on Friday, November 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.35%. The ex-dividend date is Friday, November 22nd.

DHT has decreased its dividend by an average of 5.2% annually over the last three years. DHT has a dividend payout ratio of 63.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DHT to earn $1.22 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 88.5%.

DHT Price Performance

Shares of DHT opened at $10.54 on Thursday. The company has a 50 day moving average of $10.93 and a 200-day moving average of $11.25. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.70 billion, a P/E ratio of 10.54 and a beta of -0.36. DHT has a twelve month low of $9.28 and a twelve month high of $12.80.

DHT (NYSE:DHT – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The company had revenue of $92.64 million during the quarter, compared to the consensus estimate of $87.51 million. During the same period in the prior year, the business posted $0.19 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that DHT will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $14.00 target price on shares of DHT in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DHT presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Read Our Latest Stock Report on DHT

About DHT

(Get Free Report)

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.

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