Nordic American Tankers (NYSE:NAT) Posts Earnings Results, Beats Estimates By $0.03 EPS

Nordic American Tankers (NYSE:NAT) posted its quarterly earnings results on Tuesday. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03, Zacks reports. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.56%. The firm had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. During the same period in the prior year, the company posted $0.13 earnings per share.

Nordic American Tankers Stock Performance

NYSE NAT opened at $3.66 on Wednesday. The business has a 50 day moving average price of $3.71 and a 200 day moving average price of $3.91. The company has a market capitalization of $763.15 million, a P/E ratio of 11.42 and a beta of -0.16. Nordic American Tankers has a 1-year low of $3.31 and a 1-year high of $4.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.60.

Nordic American Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 13.13%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio (DPR) is 150.00%.

Analysts Set New Price Targets

NAT has been the subject of several recent analyst reports. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Evercore ISI reduced their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th. Finally, Jefferies Financial Group decreased their target price on shares of Nordic American Tankers from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th.

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.