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DHT Holdings Inc. (NYSE: DHT): Is Its Value Too High Compared To Others?

DHT Holdings Inc. (NYSE:DHT) shares, rose in value on Friday, May 26, with the stock price up by 1.00% to the previous day’s close as strong demand from buyers drove the stock to $8.11.

Actively observing the price movement in the recent trading, the stock is buoying the session at $8.03, falling within a range of $7.98 and $8.20. The value of beta (5-year monthly) is -0.22 whereas the PE ratio is 11.23 over 12-month period. Referring to stock’s 52-week performance, its high was $12.13, and the low was $5.34. On the whole, DHT has fluctuated by -15.08% over the past month.

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With the market capitalization of DHT Holdings Inc. currently standing at about $1.27 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 08, 2023 – Aug 14, 2023. The company’s Forward Dividend Ratio is 0.92, with its dividend yield at 11.46%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.35, which is expected to increase to $0.21 for fiscal year $1.07 and then to about $1.43 by fiscal year 2024. Data indicates that the EPS growth is expected to be 189.20% in 2024, while the next year’s EPS growth is forecast to be 33.60%.

Analysts have estimated the company’s revenue for the quarter at $110.84 million, with a low estimate of $97.6 million and a high estimate of $123.71 million. According to the average forecast, sales growth in current quarter could jump up 105.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $393.51 million, representing an increase of 48.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DHT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 2.25, with the price of DHT currently trading nearly -3.85% and -14.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.54, while the 7-day volatility ratio is showing 3.32% which for the 30-day chart, stands at 4.23%. Furthermore, DHT Holdings Inc. (DHT)’s beta value is -0.20, and its average true range (ATR) is 0.35.

A comparison of DHT Holdings Inc. (DHT) with its peers suggests the former has fared considerably weaker in the market. DHT showed an intraday change of 1.00% in today’s session so far, and over the past year, it grew by 32.95%%. In comparison, Ardmore Shipping Corporation (ASC) has moved higher at 2.44% today and is up 65.30% over the past 12 months. On the other hand, the price of Frontline plc (FRO) has risen 3.45% today. The stock, however, is off 41.38% from where it was a year ago. Additionally, there is a gain of 0.17% for Teekay Corporation (TK) in recent trading while the stock has seen an overall depriciation of 68.68%% over the past year. The PE ratio stands at 11.23 for DHT Holdings Inc., compared to 2.72 for Ardmore Shipping Corporation, and 6.66 for Frontline plc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 1.00%. Meanwhile, the Dow Jones Industrial Improved by 0.88%.

Data on historical trading for DHT Holdings Inc. (NYSE:DHT) indicates that the trading volumes over the past 10 days have averaged 2.17 million and over the past 3 months, they’ve averaged 2.31 million. According to company’s latest data on outstanding shares, there are 162.99 million shares outstanding.

Nearly 0.20% of DHT Holdings Inc.’s shares belong to company insiders and institutional investors own 59.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.04 million shares as on May 14, 2023, resulting in a short ratio of 1.94. According to the data, the short interest in DHT Holdings Inc. (DHT) stood at 3.10% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 4.58 million. The stock has fallen by -8.67% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DHT stock heading into the next quarter.

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