Jefferies Financial Group Lowers TORM (NASDAQ:TRMD) Price Target to $32.00

TORM (NASDAQ:TRMD) had its target price trimmed by Jefferies Financial Group from $37.00 to $32.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th. Evercore ISI lifted their target price on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Price Performance

TORM stock opened at $22.85 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm has a 50-day moving average of $30.20 and a two-hundred day moving average of $34.64. TORM has a 1 year low of $22.72 and a 1 year high of $40.47.

TORM (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 34.45% and a net margin of 43.81%. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. During the same quarter last year, the firm posted $2.14 earnings per share. Equities analysts anticipate that TORM will post 6.41 EPS for the current fiscal year.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be issued a $0.876 dividend. This represents a $3.50 annualized dividend and a yield of 15.33%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s dividend payout ratio is currently 68.05%.

Institutional Trading of TORM

A number of institutional investors have recently made changes to their positions in TRMD. Geode Capital Management LLC increased its position in TORM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after buying an additional 505 shares in the last quarter. Assetmark Inc. grew its stake in shares of TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after acquiring an additional 516 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of TORM during the second quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC raised its position in shares of TORM by 7.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock valued at $433,000 after purchasing an additional 811 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in TORM by 12.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock worth $365,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors and hedge funds 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.