Nordic American Tankers (NYSE:NAT) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Nordic American Tankers (NYSE:NAT) issued its quarterly earnings data on Wednesday. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate 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 net margin of 26.41% and a return on equity of 11.95%.

Nordic American Tankers Trading Up 0.6 %

Shares of NAT traded up $0.02 during mid-day trading on Friday, reaching $2.56. The company’s stock had a trading volume of 336,586 shares, compared to its average volume of 2,461,738. The stock has a market cap of $533.47 million, a PE ratio of 8.80 and a beta of -0.31. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 52 week low of $2.41 and a 52 week high of $4.40. The company’s fifty day moving average price is $2.66 and its two-hundred day moving average price is $3.06.

Nordic American Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.06 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.39%. Nordic American Tankers’s payout ratio is 82.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Friday, February 28th. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th.

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.