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DHT Holdings (DHT) Moves 5.4% Higher: Will This Strength Last?

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DHT Holdings (DHT) shares ended the last trading session 5.4% higher at $6.21. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.3% loss over the past four weeks.

The stock is being aided by the optimism surrounding LNG charter rates. Driven by the increasing rates, shares of DHT have gained in excess of 19% year to date.


This independent oil tanker company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $57.86 million, up 27.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For DHT Holdings, the consensus EPS estimate for the quarter has been revised 42.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DHT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

DHT Holdings is a member of the Zacks Transportation - Shipping industry. One other stock in the same industry, Pangaea Logistics (PANL), finished the last trading session 1.4% higher at $5.15. PANL has returned -22.7% over the past month.

Pangaea Logistics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.37. Compared to the company's year-ago EPS, this represents a change of +27.6%. Pangaea Logistics currently boasts a Zacks Rank of #1 (Strong Buy).


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DHT Holdings, Inc. (DHT) : Free Stock Analysis Report
 
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