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

DHT Holdings, Inc. (NYSE:DHT) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 8.22%. The ex-dividend date is Friday, November 22nd.

DHT has decreased its dividend payment by an average of 5.2% per year over the last three years. DHT has a payout ratio of 63.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect DHT to earn $1.23 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 87.8%.

DHT Stock Up 5.4 %

DHT stock traded up $0.55 during mid-day trading on Wednesday, hitting $10.70. 2,508,494 shares of the company’s stock were exchanged, compared to its average volume of 1,829,385. The stock has a market cap of $1.73 billion, a P/E ratio of 10.62 and a beta of -0.36. The stock has a 50 day moving average of $10.90 and a two-hundred day moving average of $11.28. DHT has a 1-year low of $9.28 and a 1-year high of $12.80. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36.

DHT (NYSE:DHT) last released its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.57%. The business had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, analysts anticipate that DHT will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DHT has been the subject of several research reports. StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target for the company. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus cut their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, DHT presently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

About DHT

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.