Nordic American Tankers (NYSE:NAT) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Nordic American Tankers (NYSE:NAT – Get Rating) released its quarterly earnings results on Monday. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02, MarketWatch Earnings reports. Nordic American Tankers had a return on equity of 17.23% and a net margin of 37.03%. The business had revenue of $87.09 million during the quarter, compared to the consensus estimate of $79.55 million. During the same quarter in the previous year, the company posted ($0.14) EPS.

Nordic American Tankers Price Performance

NAT remained flat at $3.83 during trading on Wednesday. The company’s stock had a trading volume of 973,872 shares, compared to its average volume of 3,161,668. The company’s 50 day moving average price is $3.67 and its 200 day moving average price is $3.52. The company has a market capitalization of $799.70 million, a PE ratio of 9.12 and a beta of 0.09. Nordic American Tankers has a 52-week low of $1.80 and a 52-week high of $4.65. The company has a quick ratio of 1.62, a current ratio of 1.97 and a debt-to-equity ratio of 0.49.

Nordic American Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be given a $0.15 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.60 annualized dividend and a yield of 15.67%. Nordic American Tankers’s payout ratio is 142.86%.

Analyst Ratings Changes

NAT has been the subject of a number of research reports. TheStreet upgraded Nordic American Tankers from a “c+” rating to a “b” rating in a report on Monday. B. Riley upped their price objective on Nordic American Tankers from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Financial Group upped their target price on Nordic American Tankers from $4.50 to $5.00 and gave the company a “buy” rating in a report on Monday, February 27th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.25.

Institutional Investors Weigh In On Nordic American Tankers

A number of institutional investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC bought a new stake in Nordic American Tankers during the first quarter worth about $25,000. Quantbot Technologies LP acquired a new position in Nordic American Tankers during the 2nd quarter worth about $30,000. B. Riley Wealth Advisors Inc. acquired a new position in Nordic American Tankers during the 3rd quarter worth about $31,000. Franklin Resources Inc. bought a new position in shares of Nordic American Tankers in the 4th quarter worth about $36,000. Finally, Clear Street Markets LLC bought a new position in shares of Nordic American Tankers in the 4th quarter worth about $37,000. 40.41% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

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Nordic American Tankers Ltd. operates as an international tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.