DHT Holdings is expected to remain in the black during the first quarter when it reports its results for the period later today.
Consensus among analysts is for an adjusted profit of $16m for the opening three months of 2017.
According to James Jang at Maxim analysts are charting earnings per share of $0.20 for the period.
“We believe there is further upside in the stock as the BW Group VLCC fleet is delivered in 2Q17 coupled with a return to mid-cycle rates in 2018 should position DHT to increased profitability,” he said.
While DHT dismissed the latest takeover offer from Frontline last night, Jang is looking for further colour on how DHT will look to integrate four VLCCs ordered by leading shareholder BW Group last week.
As TradeWinds reported yesterday, DHT has sought to draw a line under Frontline’s interest, suggesting further discussions were unlikely to deliver a fair offer.
“We believe that it is time for both Frontline and DHT to turn our attentions to more productive endeavors,” DHT directors said in an open letter.
He said: “I am tempted to quote our author Henrik Ibsen: ‘When the starting point is very wrong, the result often gets most original.’”
