What Analysts Expect for DHT Holdings’ 3Q Performance



Stock performance

DHT Holdings (DHT) stock closed at $4.02 on October 5, 2017. The stock has fallen 2.9% year-to-date. Nordic American Tanker (NAT) fell 34.6%, Gener8 Maritime Partners (GNRT) rose 3.5%, Euronav (EURN) rose 2.5%, and Frontline (FRO) fell 15% in the same period.

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Analyst estimates for 3Q17

Wall Street analysts expect DHT Holdings’ revenue to be $53.7 million in 3Q17, a fall from its 2Q17 revenue of $59.6 million. However, it’s expected to be 6.9% higher year-over-year. For 2017, revenue for DHT is expected to be $265 million, which is 8.6% lower than 2016 revenue of $290.6 million. It’s expected to rise to $335.0 million in 2018.

For the third quarter of 2017, analysts estimate that DHT’s EBITDA (earnings before interest, tax, depreciation, and amortization) will be $26.5 million, a fall from $36.7 million reported in 2Q17 and a fall from $29.5 million reported in 3Q16. EBITDA for 2017 is estimated at $157 million, which is lower than the $209.0 million reported in 2016. In 2018, EBITDA is expected to rise to $196.6 million.

Analyst recommendations

14 analysts give recommendations for DHT Holdings. Out of these, one analyst gives the company a “strong buy” and six analysts give it a “buy” recommendation. The remaining seven analysts gave a “hold” rating on the company. None of the analysts rate it a “sell” or “strong sell.” Other crude (DBO) tanker companies DHT Holdings (DHT), Tsakos Energy Navigation (TNP), and Euronav (EURN) also don’t have “strong sell” or “sell” ratings.

The 12-month consensus target price for DHT is $5.45, which implies a potential upside of 34.2% from the market price of $4.05 on October 3, 2017.


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