TORM (NASDAQ:TRMD) Trading Down 1.8% – What’s Next?

TORM plc (NASDAQ:TRMD)’s share price traded down 1.8% during mid-day trading on Tuesday . The stock traded as low as $23.34 and last traded at $23.37. 325,941 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 758,715 shares. The stock had previously closed at $23.80.

Wall Street Analyst Weigh In

TRMD has been the subject of several recent research reports. Evercore ISI lifted their price objective on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds raised TORM to a “hold” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group reduced their price target on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday.

TORM Price Performance

The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The company’s 50-day simple moving average is $30.60 and its 200 day simple moving average is $34.80. The company has a market capitalization of $1.93 billion, a P/E ratio of 3.06 and a beta of 0.27.

TORM (NASDAQ:TRMD) last issued its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. During the same period in the previous year, the company earned $2.14 earnings per share. As a group, sell-side analysts expect that TORM plc will post 6.41 earnings per share for the current fiscal year.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be given a $0.876 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 14.83%. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its holdings in TORM by 1,166.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock valued at $1,289,000 after buying an additional 35,000 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in TORM in the third quarter valued at $7,359,000. SG Americas Securities LLC raised its holdings in shares of TORM by 597.3% in the second quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock valued at $888,000 after buying an additional 19,628 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of TORM during the first quarter worth about $1,229,000. Finally, Lighthouse Investment Partners LLC lifted its holdings in shares of TORM by 276.2% in the second quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock valued at $4,267,000 after purchasing an additional 80,793 shares in the last quarter. Institutional investors own 73.89% of the company’s stock.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.