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

Nordic American Tankers (NYSE:NAT) posted its quarterly earnings data 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. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The firm had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million.

Nordic American Tankers Stock Up 0.6 %

Shares of NAT traded up $0.02 on Friday, hitting $2.56. The company’s stock had a trading volume of 443,724 shares, compared to its average volume of 2,462,067. Nordic American Tankers has a fifty-two week low of $2.41 and a fifty-two week high of $4.40. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $2.66 and its 200-day moving average price is $3.06. The firm has a market capitalization of $533.47 million, a price-to-earnings ratio of 8.81 and a beta of -0.31.

Nordic American Tankers Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Friday, February 28th.

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.