TORM (NASDAQ:TRMD) Shares Gap Down – What’s Next?

TORM plc (NASDAQ:TRMD)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $29.15, but opened at $27.90. TORM shares last traded at $27.88, with a volume of 377,961 shares traded.

Wall Street Analyst Weigh In

A number of research firms have commented on TRMD. Evercore ISI boosted their price target on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Fearnley Fonds raised TORM to a “hold” rating in a report on Friday, September 27th.

TORM Trading Down 5.0 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 3.49 and a beta of 0.24. The company’s 50-day moving average is $34.30 and its 200-day moving average is $35.75.

TORM (NASDAQ:TRMD) last released its quarterly earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The business had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. During the same period in the prior year, the firm earned $2.14 earnings per share. On average, research analysts predict that TORM plc will post 7.12 earnings per share for the current year.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 25.99%. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio is 66.29%.

Institutional Trading of TORM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PSI Advisors LLC boosted its stake in shares of TORM by 80.1% in the 3rd quarter. PSI Advisors LLC now owns 17,665 shares of the company’s stock valued at $604,000 after purchasing an additional 7,855 shares during the last quarter. International Assets Investment Management LLC acquired a new position in TORM in the third quarter valued at approximately $7,359,000. U S Global Investors Inc. boosted its stake in TORM by 39.5% in the third quarter. U S Global Investors Inc. now owns 9,995 shares of the company’s stock valued at $342,000 after acquiring an additional 2,829 shares during the last quarter. Seven Grand Managers LLC acquired a new stake in TORM during the 3rd quarter worth $2,051,000. Finally, Atomi Financial Group Inc. raised its position in shares of TORM by 22.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 15,461 shares of the company’s stock valued at $529,000 after acquiring an additional 2,784 shares during the last quarter. 73.89% of the stock is currently 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.