Torm (NASDAQ:TRMD) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Torm (NASDAQ:TRMD – Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.

Other research analysts have also recently issued reports about the company. Evercore reissued an “outperform” rating and set a $34.00 price objective on shares of Torm in a report on Thursday, February 26th. Fearnley Fonds raised shares of Torm from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.00.

Check Out Our Latest Stock Report on Torm

Torm Trading Up 1.5%

Shares of TRMD opened at $28.67 on Friday. Torm has a 1 year low of $13.60 and a 1 year high of $31.76. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $24.70 and a 200-day simple moving average of $22.58. The stock has a market cap of $2.69 billion, a PE ratio of 10.10 and a beta of -0.01.

Torm (NASDAQ:TRMD – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. Torm had a return on equity of 13.26% and a net margin of 21.29%.The business had revenue of $347.60 million during the quarter, compared to the consensus estimate of $236.21 million. On average, sell-side analysts predict that Torm will post 6.27 EPS for the current fiscal year.

Torm Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Thursday, March 12th will be paid a $0.70 dividend. This is an increase from Torm’s previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date of this dividend is Thursday, March 12th. Torm’s payout ratio is presently 63.73%.

Institutional Trading of Torm

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Torm by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company’s stock worth $46,629,000 after buying an additional 11,457 shares in the last quarter. Norges Bank bought a new position in shares of Torm in the second quarter worth about $20,998,000. Renaissance Technologies LLC lifted its position in shares of Torm by 25.8% during the fourth quarter. Renaissance Technologies LLC now owns 536,425 shares of the company’s stock worth $10,503,000 after purchasing an additional 110,000 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Torm during the second quarter valued at approximately $7,523,000. Finally, Millennium Management LLC increased its holdings in shares of Torm by 119.5% in the fourth quarter. Millennium Management LLC now owns 252,811 shares of the company’s stock valued at $4,950,000 after purchasing an additional 137,648 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.

About Torm

(Get Free Report)

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.

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