Profile
Sector:
EnergyIndustry:
Oil & Gas MidstreamCountry:
United KingdomIPO:
23 February 2018Website:
http://www.torm.comNext earnings report:
N/ALast dividends:
29 August 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:38:17 GMTAnalysts recommendations
Institutional Ownership
Included in screeners
TRMD Latest News
Value Investor's Edge Live hosted TORM CEO Jacob Meldgaard for an exclusive interview on Sept. 19. TORM plc is one of the largest US-listed product tanker firms with a $3.1B market capitalization. Jacob provides evenhanded industry commentary and is a well-trusted source. We reviewed current market conditions, and ongoing shipping disruptions, and discussed the potential for a strong seasonal rally starting in October.
Last week, TORM plc stock crashed as oil prices collapsed worldwide. As an oil tanker, TORM's business is impacted by the supply and demand for oil. However; it doesn't depend on high oil prices the same way that E&Ps do. The demand for oil and size of the tanker fleet are the more relevant factors here.
TORM plc's share price dropped 15% due to market sell-off and seasonality, but maintains an 18% dividend yield with potential upside in Q4. Global refinery shifts away from Europe to the Middle East and Africa will enhance clean product trade, benefiting TRMD. Increased vessel supply from crude to clean trades has capped rates, but the TMX pipeline and seasonality will reverse this trend, supporting future rates.
TORM plc offers a high 22% dividend yield, but this is likely unsustainable long-term despite current profitability. The company has a growing fleet of 96 vessels, with an average age of 11-12 years, and a strong balance sheet. Geopolitical tensions have boosted product tanker rates, significantly increasing TORM's profits and enabling high dividends.
TORM plc (NASDAQ:TRMD ) Q2 2024 Earnings Conference Call August 15, 2024 9:00 AM ET Company Participants Jacob Meldgaard - Executive Director and Chief Executive Officer Kim Balle - Chief Financial Officer Conference Call Participants Jon Chappell - Evercore Omar Nokta - Jefferies Clement Mullins - Value Investors Edge Peter Hagen - ABG Operator Good day, and thank you for standing by. Welcome to the TORM First Six Months and Second Quarter 2024 Results Call.
TORM (TRMD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Refinery additions in 2023 are reaching full capacity, resulting in more supply entering the export market and increased demand for shipping. The 15% yield is well covered within current cash flows and has adequate levels of margin should shipping rates decline. The next 12-18 months look promising for shipping rates to remain high, ensuring large cash flows and dividends.
TORM (TRMD) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.
TORM PLC, a tanker company majority owned by Brookfield's Oaktree Wealth Management, has a turbulent past but is now supported by two reputable financial services firms. With a $1.50 dividend, the stock offers a potential 16% forward yield if the dividend remains unchanged.
TORM plc's stock has increased by 62.64% since I recommended it as a "Buy" in July 2023. It is still undervalued and strategically positioned, in my opinion. The product tanker market is projected to see a rise in demand and a decrease in supply, creating advantageous conditions for sustaining high rates. TORM's financial standing and dividend coverage are expected to remain robust for at least the next two years.
- 1(current)
What type of business is 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. The Marine Exhaust segment engages in developing and producing advanced and green marine equipment. TORM plc was founded in 1889 and is based in London, the United Kingdom.
What sector is TORM in?
TORM is in the Energy sector
What industry is TORM in?
TORM is in the Oil & Gas Midstream industry
What country is TORM from?
TORM is headquartered in United Kingdom
When did TORM go public?
TORM initial public offering (IPO) was on 23 February 2018
What is TORM website?
https://www.torm.com
Is TORM in the S&P 500?
No, TORM is not included in the S&P 500 index
Is TORM in the NASDAQ 100?
No, TORM is not included in the NASDAQ 100 index
Is TORM in the Dow Jones?
No, TORM is not included in the Dow Jones index
When was TORM the previous earnings report?
No data
When does TORM earnings report?
Next earnings report date is not announced yet