Nordic American Tankers (NYSE:NAT) Issues Earnings Results

Nordic American Tankers (NYSE:NAT) posted its quarterly earnings results on Tuesday. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03, Zacks reports. The company had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.56%. During the same period last year, the firm earned $0.13 EPS.

Nordic American Tankers Stock Performance

Nordic American Tankers stock opened at $3.61 on Thursday. Nordic American Tankers has a fifty-two week low of $3.31 and a fifty-two week high of $4.83. The company has a market capitalization of $753.75 million, a price-to-earnings ratio of 11.28 and a beta of -0.16. The stock has a fifty day moving average of $3.70 and a two-hundred day moving average of $3.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.77.

Nordic American Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 13.30%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers’s payout ratio is currently 150.00%.

Analyst Ratings Changes

NAT has been the subject of several research analyst reports. Evercore ISI dropped their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group decreased their price objective on shares of Nordic American Tankers from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.