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Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17

PART:
1 2 3 4 5 6 7 8 9 10 11
Part 6
Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17 PART 6 OF 11

No ‘Sell’ Ratings for DHT Holdings

Stock performance

DHT Holdings (DHT) had a rather good run in the first half of 2017. Most crude oil tanker stocks have negative year-to-date returns, but DHT has had a positive return, rising 5.1% since the start of the year. In this part of the series, we’ll see what analysts have to say about DHT Holdings’ upcoming 2Q17 results.

No &#8216;Sell&#8217; Ratings for DHT Holdings

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Analyst estimates for 2Q17

Wall Street analysts expect DHT Holdings’ revenue to be $66.3 million in 2Q17, a fall from its 1Q17 revenue of $70.7 million. It’s expected to be 20.3% lower year-over-year. For 2017, revenue for DHT is expected to be $277.0 million, which is 4.5% lower than 2016 revenue of $290.6 million. It’s expected to rise to $345.0 million in 2018.

For the second quarter of 2017, analysts estimate that DHT’s EBITDA (earnings before interest, tax, depreciation, and amortization) will be $38.8 million, a fall from $50.5 million reported in 1Q17 and a fall from $63.7 million reported in 2Q16.

EBITDA for 2017 is estimated at $165.0 million, which is lower than $209.0 million reported in 2016. In 2018, EBITDA is expected to rise to $210.0 million.

Analyst recommendations

Sixteen analysts have given recommendations for DHT Holdings. Of those, two analysts have given it a “strong buy,” and six have given it a “buy.” Eight analysts have recommended a “hold” for the stock. None of the analysts have given the stock a “sell” or “strong sell” rating. Currently, Navios Maritime Midstream Partners (NAP), Tsakos Energy Navigation (TNP), Gener8 Maritime Partners (GNRT), and Euronav (EURN) also don’t have any “sell” or “strong sell” ratings.

The consensus target price for DHT Holdings is $5.56, which implies an upside of 29.0% from the current price of $4.20 on July 7, 2017.

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