Nordic American Tankers Limited (NYSE:NAT – Get Free Report) declared a quarterly dividend on Thursday, August 29th, Zacks reports. Stockholders of record on Thursday, September 26th will be paid a dividend of 0.12 per share by the shipping company on Tuesday, November 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.06%. The ex-dividend date is Thursday, September 26th.
Nordic American Tankers has increased its dividend payment by an average of 2.9% per year over the last three years. Nordic American Tankers has a dividend payout ratio of 78.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Nordic American Tankers to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 96.0%.
Nordic American Tankers Stock Up 1.5 %
Shares of NYSE:NAT opened at $3.68 on Tuesday. The business’s 50 day moving average is $3.64 and its 200 day moving average is $3.87. The stock has a market cap of $767.33 million, a P/E ratio of 11.48 and a beta of -0.19. Nordic American Tankers has a 52-week low of $3.31 and a 52-week high of $4.83. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36.
Analysts Set New Price Targets
A number of research firms recently commented on NAT. Jefferies Financial Group reissued a “hold” rating and set a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th. Evercore ISI dropped their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th. Finally, StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th.
Check Out Our Latest Research Report on Nordic American Tankers
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.
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