Nordic American Tankers (NYSE:NAT) Announces Quarterly Earnings Results

Nordic American Tankers (NYSE:NAT) posted its earnings results on Wednesday. The shipping company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02), Zacks reports. The firm had revenue of $46.39 million for the quarter, compared to analysts’ expectations of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%.

Nordic American Tankers Stock Up 0.2 %

Nordic American Tankers stock traded up $0.01 during mid-day trading on Friday, reaching $2.55. The stock had a trading volume of 573,239 shares, compared to its average volume of 2,462,823. The company has a market capitalization of $531.39 million, a price-to-earnings ratio of 8.78 and a beta of -0.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers has a one year low of $2.41 and a one year high of $4.40. The company has a 50-day moving average price of $2.66 and a two-hundred day moving average price of $3.06.

Nordic American Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 9.43%. Nordic American Tankers’s payout ratio is presently 82.76%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Friday, February 28th.

About Nordic American Tankers

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.