TORM plc: The Sell-Off Is Overdone - Upgrading To Strong Buy [Seeking Alpha]
TORM plc - Class A (TRMD)
US:NASDAQ Investor Relations:
investors.torm.com/investor-relations
Company Research
Source: Seeking Alpha
Follow Summary 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. TRMD's robust dividend yield appears sustainable, even if the market doesn't recover, thanks to structural changes in the global refinery industry. djgunner Thesis The last 10 days have been rough for owners of TORM plc ( NASDAQ: TRMD ) with the share price declining roughly 15%. The stock has been hammered by both a general market sell-off, as well as seasonality taking its toll on charter rates. However, the global refinery market continues to polarize, with production moving out of Europe and shifting toward the Middle East and Africa. Thi
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TRMD
News
- TORM plc (NASDAQ: TRMD) had its price target lowered by analysts at Jefferies Financial Group Inc. from $37.00 to $32.00. They now have a "buy" rating on the stock.MarketBeat
- TORM PLC (TRMD) Q3 2024 Earnings Call Highlights: Strong Financial Performance Amid Market ... [Yahoo! Finance]Yahoo! Finance
- TORM plc (NASDAQ: TRMD) was upgraded by analysts at Fearnley Fonds to a "hold" rating.MarketBeat
- How Good Is TORM's 22% Yield? [Seeking Alpha]Seeking Alpha
TRMD
Earnings
- 11/7/24 - Beat
TRMD
Sec Filings
- 11/7/24 - Form 6-K
- 11/7/24 - Form 6-K
- 11/4/24 - Form 6-K
- TRMD's page on the SEC website