Double Hull Tankers (NYSE:DHT) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday, April 2nd.
A number of other equities research analysts have also recently issued reports on the stock. DNB Markets raised shares of Double Hull Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th. Zacks Investment Research raised Double Hull Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Morgan Stanley raised Double Hull Tankers from an “equal weight” rating to an “overweight” rating and set a $5.00 target price for the company in a research note on Monday, February 12th. Pareto Securities raised Double Hull Tankers from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Finally, Jefferies Group started coverage on Double Hull Tankers in a research note on Monday, December 18th. They issued a “buy” rating and a $6.00 price objective for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.40.
DHT stock traded down $0.07 during mid-day trading on Monday, hitting $3.75. 181,449 shares of the company were exchanged, compared to its average volume of 821,209. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.65 and a current ratio of 2.01. Double Hull Tankers has a 1-year low of $3.27 and a 1-year high of $4.95. The company has a market capitalization of $549.73, a P/E ratio of 29.38 and a beta of 0.66.
Double Hull Tankers (NYSE:DHT) last issued its earnings results on Tuesday, February 6th. The shipping company reported ($0.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Double Hull Tankers had a net margin of 1.86% and a return on equity of 1.61%. The business had revenue of $56.60 million for the quarter, compared to the consensus estimate of $55.82 million. During the same period in the previous year, the company earned $0.18 earnings per share. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. analysts forecast that Double Hull Tankers will post -0.2 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Financial Inc. purchased a new stake in Double Hull Tankers in the 3rd quarter valued at $490,000. Caxton Associates LP increased its position in shares of Double Hull Tankers by 40.0% during the 3rd quarter. Caxton Associates LP now owns 350,000 shares of the shipping company’s stock valued at $1,393,000 after purchasing an additional 100,000 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Double Hull Tankers by 438.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 77,744 shares of the shipping company’s stock valued at $309,000 after purchasing an additional 63,295 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Double Hull Tankers during the 4th quarter valued at $143,000. Finally, BlackRock Inc. increased its position in shares of Double Hull Tankers by 4.5% during the 4th quarter. BlackRock Inc. now owns 4,045,157 shares of the shipping company’s stock valued at $14,522,000 after purchasing an additional 174,219 shares during the last quarter. Institutional investors own 35.35% of the company’s stock.
Double Hull Tankers Company Profile
DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 21, 2017, its fleet consisted of 21 crude oil tankers, including 19 very large crude carriers and 2 Aframax tankers. The company was incorporated in 2010 and is headquartered in Hamilton, Bermuda.
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