Jefferies Financial Group Raises DHT (NYSE:DHT) Price Target to $10.00

DHT (NYSE:DHTGet Rating) had its price target raised by Jefferies Financial Group from $9.00 to $10.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the shipping company’s stock. Jefferies Financial Group also issued estimates for DHT’s Q4 2022 earnings at $0.32 EPS, Q1 2023 earnings at $0.35 EPS, Q2 2023 earnings at $0.36 EPS, Q3 2023 earnings at $0.37 EPS, Q4 2023 earnings at $0.38 EPS, FY2023 earnings at $1.45 EPS, Q1 2024 earnings at $0.42 EPS, Q2 2024 earnings at $0.44 EPS and FY2024 earnings at $1.76 EPS.

A number of other brokerages have also weighed in on DHT. Stifel Nicolaus upped their target price on shares of DHT from $7.50 to $8.50 in a research note on Tuesday, July 19th. StockNews.com upgraded shares of DHT from a sell rating to a hold rating in a research note on Wednesday, August 10th.

DHT Price Performance

Shares of NYSE DHT opened at $7.90 on Tuesday. The firm has a market cap of $1.35 billion, a PE ratio of -41.58 and a beta of -0.33. The company has a current ratio of 2.99, a quick ratio of 2.32 and a debt-to-equity ratio of 0.44. DHT has a 1-year low of $4.55 and a 1-year high of $8.27. The company has a fifty day moving average price of $7.14 and a 200 day moving average price of $6.30.

DHT (NYSE:DHTGet Rating) last announced its earnings results on Wednesday, August 10th. The shipping company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.08. The firm had revenue of $54.05 million during the quarter, compared to analyst estimates of $50.57 million. DHT had a negative net margin of 9.86% and a negative return on equity of 4.88%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. Research analysts predict that DHT will post 0.07 earnings per share for the current fiscal year.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from DHT’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, August 22nd. DHT’s dividend payout ratio is currently -84.21%.

Hedge Funds Weigh In On DHT

A number of large investors have recently modified their holdings of the business. Ellevest Inc. raised its holdings in shares of DHT by 329.5% in the 1st quarter. Ellevest Inc. now owns 8,238 shares of the shipping company’s stock valued at $48,000 after purchasing an additional 6,320 shares during the period. AQR Capital Management LLC bought a new stake in shares of DHT in the 2nd quarter valued at about $80,000. Atria Wealth Solutions Inc. bought a new stake in shares of DHT in the 2nd quarter valued at about $82,000. Aigen Investment Management LP bought a new stake in shares of DHT in the 2nd quarter valued at about $88,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of DHT in the 1st quarter valued at about $86,000. 53.58% of the stock is currently owned by institutional investors and hedge funds.

DHT Company Profile

(Get Rating)

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. As of March 17, 2022, it had a fleet of 26 very large crude carriers with a capacity of 8,043,657 deadweight tons. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.

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