TORM (NASDAQ:TRMD) Stock Price Up 4.6% – What’s Next?

TORM plc (NASDAQ:TRMD) was up 4.6% during mid-day trading on Tuesday . The company traded as high as $19.09 and last traded at $19.10. Approximately 170,972 shares were traded during trading, a decline of 82% from the average daily volume of 955,510 shares. The stock had previously closed at $18.26.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRMD. Fearnley Fonds raised shares of TORM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Pareto Securities upgraded shares of TORM from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Evercore ISI lowered their price objective on shares of TORM from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, Kepler Capital Markets lowered TORM from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.50.

TORM Stock Up 4.1%

The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 2.46 and a beta of 0.13. The business has a fifty day moving average of $16.64 and a 200 day moving average of $18.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.

TORM (NASDAQ:TRMD) last announced its earnings results on Thursday, May 8th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.02). The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. TORM had a return on equity of 34.45% and a net margin of 43.81%. On average, equities analysts predict that TORM plc will post 6.27 earnings per share for the current year.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 22nd were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.41%. TORM’s payout ratio is presently 24.47%.

Institutional Trading of TORM

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC increased its stake in shares of TORM by 49.2% in the 4th quarter. Hsbc Holdings PLC now owns 153,460 shares of the company’s stock valued at $2,959,000 after purchasing an additional 50,589 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of TORM by 22.4% in the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock worth $36,417,000 after purchasing an additional 345,463 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in TORM by 174.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 43,219 shares of the company’s stock worth $841,000 after acquiring an additional 27,465 shares during the last quarter. Franklin Resources Inc. increased its position in shares of TORM by 86.3% during the fourth quarter. Franklin Resources Inc. now owns 61,429 shares of the company’s stock valued at $1,180,000 after acquiring an additional 28,455 shares during the last quarter. Finally, Mariner LLC boosted its stake in TORM by 129.3% in the fourth quarter. Mariner LLC now owns 41,382 shares of the company’s stock valued at $805,000 after acquiring an additional 23,337 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

About TORM

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.