Torm (NASDAQ:TRMD) Shares Gap Down – Time to Sell?

Torm Plc (NASDAQ:TRMD) gapped down prior to trading on Friday . The stock had previously closed at $20.49, but opened at $19.94. Torm shares last traded at $20.25, with a volume of 78,217 shares.

Wall Street Analysts Forecast Growth

TRMD has been the topic of a number of recent analyst reports. Evercore ISI set a $23.00 price target on Torm and gave the stock an “outperform” rating in a research report on Thursday. Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Pareto Securities raised Torm from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Torm presently has an average rating of “Moderate Buy” and an average price target of $27.50.

Torm Price Performance

The stock’s 50 day simple moving average is $18.26 and its 200-day simple moving average is $17.73. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 6.06 and a beta of 0.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.28 and a current ratio of 2.55.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Torm had a net margin of 24.90% and a return on equity of 15.77%. The firm had revenue of $208.20 million for the quarter, compared to analyst estimates of $207.58 million. Equities research analysts anticipate that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 8.0%. The ex-dividend date is Friday, August 22nd. Torm’s payout ratio is presently 35.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Torm during the second quarter worth about $46,000. Brevan Howard Capital Management LP acquired a new position in Torm in the 2nd quarter worth approximately $7,523,000. Raymond James Financial Inc. purchased a new position in Torm during the 2nd quarter worth approximately $348,000. Glenorchy Capital Ltd lifted its stake in Torm by 3.5% during the 2nd quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company’s stock valued at $494,000 after acquiring an additional 1,003 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Torm by 59.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 51,084 shares of the company’s stock valued at $858,000 after acquiring an additional 19,013 shares during the period. 73.89% of the stock is owned by institutional investors and hedge funds.

Torm Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.