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

DHT Holdings, Inc. (NYSE:DHT) declared a quarterly dividend on Tuesday, November 12th,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 dividend on an annualized basis and a yield of 8.22%. The ex-dividend date of this dividend is Friday, November 22nd.

DHT has decreased its dividend by an average of 5.2% per year over the last three years. DHT has a payout ratio of 63.2% indicating that 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 Trading Up 5.5 %

Shares of DHT stock traded up $0.56 on Wednesday, reaching $10.71. The company had a trading volume of 2,508,752 shares, compared to its average volume of 1,829,385. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.73 billion, a PE ratio of 10.62 and a beta of -0.36. The company has a 50-day moving average of $10.90 and a 200-day moving average of $11.28. DHT has a 12 month low of $9.28 and a 12 month high of $12.80.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. DHT had a return on equity of 15.57% and a net margin of 27.72%. The business had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same period in the prior year, the business earned $0.19 EPS. DHT’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that DHT will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

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

DHT Company Profile

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.