Nordic American Tanker (NAT) Issues Earnings Results, Beats Expectations By $0.07 EPS

Nordic American Tanker (NYSE:NAT) announced its quarterly earnings data on Wednesday. The shipping company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.07, Fidelity Earnings reports. Nordic American Tanker had a negative return on equity of 9.01% and a negative net margin of 48.82%.

Shares of NAT traded up $0.05 during midday trading on Thursday, hitting $2.10. 343,839 shares of the company traded hands, compared to its average volume of 1,449,667. Nordic American Tanker has a one year low of $2.01 and a one year high of $2.10. The stock has a market cap of $285.36 million, a PE ratio of -2.95 and a beta of 0.74. The company has a quick ratio of 4.10, a current ratio of 5.01 and a debt-to-equity ratio of 0.46.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Thursday, May 24th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, May 23rd. Nordic American Tanker’s dividend payout ratio is presently -16.90%.

A number of equities research analysts recently issued reports on the company. ValuEngine upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Morgan Stanley lowered their price objective on Nordic American Tanker from $2.50 to $2.25 and set an “equal weight” rating on the stock in a research note on Wednesday, April 25th. Zacks Investment Research cut Nordic American Tanker from a “hold” rating to a “sell” rating in a research note on Wednesday, April 25th. Credit Suisse Group lowered their price objective on Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 13th. Finally, Seaport Global Securities set a $3.00 price objective on Nordic American Tanker and gave the company a “hold” rating in a research note on Monday, February 12th. Four analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Nordic American Tanker has an average rating of “Hold” and an average target price of $3.32.

About Nordic American Tanker

Nordic American Tankers Limited, a tanker company, engages in acquiring and chartering double-hull tankers worldwide. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

Earnings History for Nordic American Tanker (NYSE:NAT)

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