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

DHT Holdings, Inc. (NYSE:DHT) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders 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 dividend 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% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of DHT stock traded up $0.55 during trading on Wednesday, hitting $10.70. 2,508,494 shares of the stock were exchanged, compared to its average volume of 1,829,385. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 10.62 and a beta of -0.36. The company has a fifty day moving average price of $10.90 and a 200-day moving average price 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 quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.57%. DHT’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. As a group, equities analysts predict that DHT will post 1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. BTIG Research assumed coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target on the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus decreased their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.