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DHT Holdings: Analysts Recommend a ‘Buy’

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Jun. 4 2018, Updated 9:02 a.m. ET

Analysts’ consensus rating

According to Reuters, the consensus rating for DHT Holdings (DHT) is 2.21, which means a “buy.”

Below are the consensus ratings for other crude oil tanker companies on a scale of one (strong buy) to five (strong sell):

  • Nordic American Tankers (NAT): 3.57 or a “sell”
  • Gener8 Maritime (GNRT): 2.17 or a “buy”
  • Teekay Tankers (TNK): 2.63 or a “hold”
  • Euronav (EURN): two or a “buy”

Out of the 14 analysts that gave recommendations on DHT Holdings, two analysts gave a “strong buy,” seven gave a “buy,” and five gave a “hold” rating. None of the analysts recommended a “strong sell” or “sell” for DHT Holdings.

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Target price

The consensus 12-month target price for DHT Holdings is $5.04, which implies a potential upside of 24.1% from the market price of $4.05 on May 29.

First-quarter results

DHT Holdings reported an adjusted EBITDA for the first quarter of $24 million—52.5% lower year-over-year. The company’s VLCC achieved time charter equivalent earnings of $21,400 per day in the first quarter. In the second quarter, the company has booked 55% of the available days at an average rate of $14,200 per day. DHT Holdings posted a positive free cash flow. In April, DHT Holdings took the delivery of the first two VLCC newbuilds from DSME.

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