Nordic American Tankers Limited (NAT) to Issue Quarterly Dividend of $0.12 on November 26th

Nordic American Tankers Limited (NYSE:NAT) 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.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.56% and a net margin of 26.35%. The firm had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same period in the previous year, the company posted $0.13 earnings per share. Sell-side analysts predict that Nordic American Tankers will post 0.41 EPS for the current year.

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.

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.