Hafnia (NYSE:HAFN) Cut to “Buy” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Hafnia (NYSE:HAFN – Free Report) from a strong-buy rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently issued reports on the company. Weiss Ratings raised Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. BTIG Research upped their price objective on Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Get Our Latest Analysis on HAFN

Hafnia Price Performance

Shares of HAFN opened at $9.13 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The company has a 50 day moving average price of $8.35 and a 200-day moving average price of $7.98. Hafnia has a fifty-two week low of $5.17 and a fifty-two week high of $10.12. The stock has a market capitalization of $4.68 billion, a PE ratio of 6.92 and a beta of 0.65.

Hafnia (NYSE:HAFN – Get Free Report) last issued its quarterly earnings data on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. The company had revenue of $834.53 million for the quarter, compared to analyst estimates of $394.57 million. Hafnia had a net margin of 56.72% and a return on equity of 26.74%.

Hafnia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were given a dividend of $0.5003 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from Hafnia’s previous quarterly dividend of $0.2877. This represents a $2.00 dividend on an annualized basis and a yield of 21.9%. Hafnia’s dividend payout ratio is currently 151.52%.

Hedge Funds Weigh In On Hafnia

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cercano Management LLC acquired a new stake in shares of Hafnia in the 4th quarter worth $1,426,000. Marnell Management LLC acquired a new position in Hafnia during the 4th quarter valued at about $2,155,000. MHR Fund Management LLC increased its position in Hafnia by 7.6% during the 4th quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company’s stock valued at $98,587,000 after buying an additional 1,309,938 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Hafnia in the second quarter valued at about $2,307,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Hafnia in the first quarter valued at about $1,859,000.

About Hafnia

(Get Free Report)

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.

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