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

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

Nordic American Tankers Trading Down 0.5 %

Shares of NYSE:NAT traded down $0.02 during midday trading on Wednesday, reaching $3.81. The company’s stock had a trading volume of 937,941 shares, compared to its average volume of 3,161,238. The firm has a market cap of $795.53 million, a price-to-earnings ratio of 9.12 and a beta of 0.09. 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 has a 1 year low of $1.80 and a 1 year high of $4.65. The business has a 50 day moving average price of $3.67 and a 200 day moving average price of $3.52.

Nordic American Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 15.75%. The ex-dividend date is Wednesday, June 14th. Nordic American Tankers’s dividend payout ratio is currently 142.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NAT. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group boosted their price target on Nordic American Tankers from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Monday, February 27th. TheStreet raised Nordic American Tankers from a “c+” rating to a “b” rating in a report on Monday. Finally, B. Riley boosted their price target on Nordic American Tankers from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, February 28th. 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, Nordic American Tankers has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Institutional Investors Weigh In On Nordic American Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Private Wealth Services LLC purchased a new stake in Nordic American Tankers during the first quarter valued at about $25,000. Quantbot Technologies LP acquired a new position in shares of Nordic American Tankers during the second quarter worth about $30,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nordic American Tankers during the third quarter worth about $31,000. Franklin Resources Inc. acquired a new position in shares of Nordic American Tankers in the fourth quarter worth about $36,000. Finally, Clear Street Markets LLC acquired a new position in shares of Nordic American Tankers in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

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.