UBS Downgrades DHT Holdings Inc to Neutral with Price Target $4.50

Brokerage firm UBS Downgrades its rating on DHT Holdings Inc(NYSE:DHT). In a research note issued to the investors, the brokerage major Lowers the price-target to $4.50 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by UBS was issued on Jul 26, 2016.

In a different note, On May 4, 2016, Seaport Global said it Assumes its rating on DHT Holdings Inc. The shares have been rated ‘Buy’ by the firm.

DHT Holdings Inc (DHT) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.21% at a volume of 19,49,223. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.74. The peak price level was also seen at $4.74 while the days lowest was $4.64. Finally the shares closed at $4.66. The 52-week high of the shares is $8.79 while the 52-week low is $4.5579. According to the latest information available, the market cap of the company is $435 M.

DHT Holdings Inc(DHT) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $90.20M. Analysts had an estimated revenue of $90.69M. Earnings per share were $0.30. Analysts had estimated an EPS of $0.39.

DHT Holdings Inc. (DHT) is engaged in the ownership and operation of a fleet of crude oil carriers. The Company’s fleet consists of eighteen crude oil tankers in operation of which all are wholly owned by the Company. The fleet in operation consists of 14 very large crude carriers (VLCCs) which are tankers ranging in size from 200000 to 320000 deadweight tons (dwt); two Suezmax tankers (Suezmaxes) which are tankers ranging in size from 130000 to 170000 dwt and two Aframax tankers (Aframaxes) which are tankers ranging in size from 80000 to 120000 dwt. Nine of its eighteen vessels in operation are on charters for periods of up to six and half years of which eight vessels are on fixed rate charter and one vessel is on a charter with earnings related to an index.

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