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DHT Holdings (DHT) Stock Jumps 6.3%: Will It Continue to Soar?
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DHT Holdings (DHT - Free Report) shares ended the last trading session 6.3% higher at $9.26. 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 10.7% gain 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 78% year to date.
This independent oil tanker company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +86.7%. Revenues are expected to be $56.61 million, up 50.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For DHT Holdings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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.
DHT Holdings is part of the Zacks Transportation - Shipping industry. Euronav NV (EURN - Free Report) , another stock in the same industry, closed the last trading session 6.7% higher at $19.02. EURN has returned 8.9% in the past month.
For Euronav NV, the consensus EPS estimate for the upcoming report has changed +233.3% over the past month to $0.02. This represents a change of +103.8% from what the company reported a year ago. Euronav NV currently has a Zacks Rank of #3 (Hold).
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DHT Holdings (DHT) Stock Jumps 6.3%: Will It Continue to Soar?
DHT Holdings (DHT - Free Report) shares ended the last trading session 6.3% higher at $9.26. 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 10.7% gain 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 78% year to date.
This independent oil tanker company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +86.7%. Revenues are expected to be $56.61 million, up 50.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For DHT Holdings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 part of the Zacks Transportation - Shipping industry. Euronav NV (EURN - Free Report) , another stock in the same industry, closed the last trading session 6.7% higher at $19.02. EURN has returned 8.9% in the past month.
For Euronav NV, the consensus EPS estimate for the upcoming report has changed +233.3% over the past month to $0.02. This represents a change of +103.8% from what the company reported a year ago. Euronav NV currently has a Zacks Rank of #3 (Hold).