DHT Holdings, Inc. Announces Quarterly Dividend of $0.17 (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.17 per share by the shipping company on Tuesday, February 25th. This represents a $0.68 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend is Tuesday, February 18th.

DHT has increased its dividend by an average of 97.4% per year over the last three years. DHT has a dividend payout ratio of 48.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect DHT to earn $0.93 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 94.6%.

DHT Price Performance

Shares of DHT stock traded down $0.31 during midday trading on Thursday, reaching $11.50. 3,767,155 shares of the company traded hands, compared to its average volume of 2,301,223. The firm’s 50 day simple moving average is $10.03 and its two-hundred day simple moving average is $10.61. The firm has a market cap of $1.85 billion, a PE ratio of 11.50 and a beta of -0.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. DHT has a 1-year low of $8.67 and a 1-year high of $12.80.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. DHT had a net margin of 27.72% and a return on equity of 15.58%. On average, equities research analysts expect that DHT will post 1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DHT has been the subject of several research reports. Kepler Capital Markets downgraded DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective for the company. in a research report on Thursday, December 12th. BTIG Research began coverage on DHT in a research report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective on the stock. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Jefferies Financial Group boosted their target price on shares of DHT from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday. 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. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.54.

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.