TORM (TRMD) Scheduled to Post Quarterly Earnings on Thursday

TORM (NASDAQ:TRMD) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect TORM to post earnings of $1.38 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

TORM (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period in the previous year, the firm posted $2.14 EPS. On average, analysts expect TORM to post $7 EPS for the current fiscal year and $5 EPS for the next fiscal year.

TORM Stock Performance

NASDAQ TRMD opened at $26.10 on Thursday. TORM has a fifty-two week low of $25.47 and a fifty-two week high of $40.47. The stock has a market cap of $2.13 billion, a PE ratio of 3.35 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The firm’s fifty day moving average price is $32.99 and its two-hundred day moving average price is $35.40.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a yield of 27.59%. This is a positive change from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is currently 67.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th. Evercore ISI lifted their target price on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.

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.