TORM: Product Tanker Play For Income-Minded Investors [Seeking Alpha]
TORM plc - Class A (TRMD)
US:NASDAQ Investor Relations:
investors.torm.com/investor-relations
Company Research
Source: Seeking Alpha
Catalysts for the tanker market include declining diesel inventories, growing refinery dislocation, and the Red Sea crisis. The company's liquidity position is bulletproof with $240 million cash, $724 million operating earnings, and $857 million operating cash flow. The company trades at 112% P/NAV. Although, TRMD pays dividends with a 21.7% yield. They are well covered by the company's excess profits and cash reserves. Introduction The product tankers market had a solid last quarter. The Red Sea crisis, declining diesel inventories, and new refining capacity expected to come online might extend the rally in the product tanker stocks. One of the best ways to get exposure is TORM Plc ( NASDAQ: TRMD ). Along with Scorpio Tanker ( STNG ) and Hafnia ( OTCQX:HAFNF ), TRMD is the third-largest product tanker globally. It has 93 vessels with an average age of 12 years, and 72% of the ships are scrubber-equipped. The company has the highest return on equity and pays dividends with 20
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TRMD
Analyst Actions
- 3/8/24 - Evercore ISI Group
TRMD
Sec Filings
- 4/26/24 - Form 6-K
- 4/11/24 - Form 6-K
- 4/9/24 - Form 6-K
- TRMD's page on the SEC website