Brokerages Set Torm Plc (NASDAQ:TRMD) Target Price at $27.50

Torm Plc (NASDAQ:TRMD) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $27.50.

TRMD has been the subject of several recent analyst reports. Fearnley Fonds lowered shares of Torm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Torm in a research note on Saturday, September 27th. Pareto Securities downgraded shares of Torm from a “buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Evercore ISI set a $23.00 price objective on shares of Torm and gave the stock an “outperform” rating in a research note on Thursday, August 14th.

Torm Stock Up 3.0%

Shares of NASDAQ:TRMD opened at $21.93 on Friday. The company has a 50-day moving average price of $21.08 and a 200 day moving average price of $18.41. The company has a current ratio of 2.57, a quick ratio of 2.30 and a debt-to-equity ratio of 0.46. Torm has a 12 month low of $13.60 and a 12 month high of $33.15. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 6.65 and a beta of 0.08.

Torm (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $208.20 million for the quarter, compared to the consensus estimate of $207.58 million. Torm had a return on equity of 15.73% and a net margin of 24.90%. As a group, equities research analysts predict that Torm will post 6.27 earnings per share for the current year.

Torm Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 22nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, August 22nd. Torm’s dividend payout ratio (DPR) is currently 35.45%.

Institutional Trading of Torm

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Torm by 0.7% during the second quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock worth $1,385,000 after purchasing an additional 611 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Torm by 5.4% during the 2nd quarter. NewEdge Advisors LLC now owns 17,650 shares of the company’s stock valued at $294,000 after buying an additional 910 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Torm by 9.1% during the 1st quarter. Apollon Wealth Management LLC now owns 11,691 shares of the company’s stock valued at $193,000 after buying an additional 972 shares in the last quarter. Glenorchy Capital Ltd boosted its position in Torm by 3.5% in the 2nd quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company’s stock valued at $494,000 after buying an additional 1,003 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in Torm by 2.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 69,258 shares of the company’s stock worth $1,154,000 after acquiring an additional 1,722 shares in the last quarter. Hedge funds and other 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.