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DHT Holdings’ earnings estimates, target price, and valuations

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Nov. 20 2019, Updated 2:50 p.m. ET

Earnings estimates

For the third quarter of 2014, DHT Holdings’ earnings estimates per share are at $0.071. Meanwhile, sales are estimated at $47.6 million, which is 71.3% higher than the corresponding quarter last year. Adjusted net income is forecasted at $6.30 million with operating profit at $14.3 million and earnings before interest, tax, depreciation, and amortization at $28.3 million.

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Analyst targets

Global Hunter Securities initiated coverage on shares of DHT Holdings in a research report. The firm issued a “buy” rating on the stock with a $15 target price, indicating an upside of 81.4% from current levels.

Also, analysts at Evercore ISI upgraded shares of DHT Holdings from a “hold” rating to a “buy” rating in a research note. The average consensus rating on the stock is currently a “buy” with an average price target of $10.10—22.1% higher than current levels.

Valuation metrics

Shipping companies don’t trade based on price-to-earnings multiples because leverage can have a significant impact on cash flows and risk profiles. These companies trade based on forward EV/EBITDA[1. enterprise value to earnings before interest, tax, depreciation, and amortization].

DHT Holdings is slated to record a current EV/EBITDA of 11.2. Meanwhile, peers Teekay Tanker (TNK), Nordic American Tanker (NAT), Frontline (FRO), and Tsakos Energy Navigation (TNP) recorded EV/EBITDA of 8.94, 13.3, 13.9, and 8.74, respectively. DHT’s forward EV/EBITDA stands at 9.4, while peers Teekay Tanker (TNK), Nordic American Tanker (NAT), Frontline (FRO), and Tsakos Energy Navigation (TNP) recorded 8.03, 9.28, 11.3, and 8.38, respectively.

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