Nordic American Tankers (NYSE:NAT) Announces Earnings Results, Beats Estimates By $0.09 EPS

Nordic American Tankers (NYSE:NAT) issued its quarterly earnings results on Thursday. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09, FiscalAI reports. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The company had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $84.18 million.

Nordic American Tankers Stock Up 3.5%

Shares of NAT opened at $6.75 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.00 and a quick ratio of 2.75. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 24.99 and a beta of -0.57. Nordic American Tankers has a 1 year low of $2.96 and a 1 year high of $7.20. The business’s 50 day simple moving average is $6.33 and its 200-day simple moving average is $5.76.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.27 per share. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.08 annualized dividend and a dividend yield of 16.0%. Nordic American Tankers’s payout ratio is currently 325.93%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $4.00.

Institutional Investors Weigh In On Nordic American Tankers

Several large investors have recently bought and sold shares of NAT. Stokes Family Office LLC acquired a new stake in Nordic American Tankers in the fourth quarter worth about $37,000. Parkside Financial Bank & Trust boosted its stake in Nordic American Tankers by 2,800.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock worth $37,000 after purchasing an additional 10,500 shares in the last quarter. SmartHarvest Portfolios LLC acquired a new stake in Nordic American Tankers in the 4th quarter worth approximately $40,000. Cibc World Markets Corp purchased a new stake in Nordic American Tankers during the 4th quarter worth approximately $47,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in Nordic American Tankers during the 4th quarter worth approximately $55,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.