TORM (NASDAQ:TRMD – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06), Zacks reports. TORM had a return on equity of 34.45% and a net margin of 43.81%.
TORM Stock Up 10.9 %
TRMD stock traded up $1.88 during mid-day trading on Thursday, hitting $19.23. 850,706 shares of the company were exchanged, compared to its average volume of 1,142,280. The firm has a market cap of $1.81 billion, a P/E ratio of 2.49 and a beta of 0.14. TORM has a 1-year low of $16.76 and a 1-year high of $40.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The firm’s 50 day simple moving average is $19.81 and its 200 day simple moving average is $25.28.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group reduced their target price on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.
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.
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