DHT Holdings, Inc. (NYSE:DHT) Raises Dividend to $0.29 Per Share

DHT Holdings, Inc. (NYSE:DHTGet Free Report) announced a quarterly dividend on Tuesday, May 14th, Wall Street Journal reports. Shareholders of record on Friday, May 24th will be given a dividend of 0.29 per share by the shipping company on Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a yield of 9.44%. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from DHT’s previous quarterly dividend of $0.22.

DHT has decreased its dividend by an average of 5.2% annually over the last three years and has increased its dividend every year for the last 1 years. DHT has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect DHT to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 61.5%.

DHT Stock Up 0.6 %

Shares of DHT stock traded up $0.07 on Wednesday, hitting $12.29. 3,440,112 shares of the company traded hands, compared to its average volume of 1,810,747. DHT has a 12-month low of $7.60 and a 12-month high of $12.45. The company has a quick ratio of 2.94, a current ratio of 3.54 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.98 billion, a PE ratio of 12.38 and a beta of -0.34. The company has a 50-day moving average price of $11.43 and a 200 day moving average price of $10.88.

DHT (NYSE:DHTGet Free Report) last issued its earnings results on Tuesday, May 14th. The shipping company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). DHT had a net margin of 28.78% and a return on equity of 15.52%. The firm had revenue of $106.30 million during the quarter, compared to analysts’ expectations of $106.87 million. During the same quarter last year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. Sell-side analysts predict that DHT will post 1.53 earnings per share for the current year.

Analysts Set New Price Targets

DHT has been the topic of several recent research reports. TheStreet raised shares of DHT from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of DHT from a “hold” rating to a “buy” rating and raised their price target for the company from $11.00 to $14.00 in a report on Thursday, March 21st. Truist Financial upped their price objective on shares of DHT from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $12.00 price target on shares of DHT in a report on Wednesday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

Read Our Latest Research Report on DHT

DHT Company Profile

(Get Free Report)

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.

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Dividend History for DHT (NYSE:DHT)

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