Nordic American Tanker (NAT) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Nordic American Tanker (NYSE:NAT) posted its quarterly earnings results on Wednesday. The shipping company reported ($0.13) earnings per share for the quarter, topping the 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%.

NYSE NAT remained flat at $$2.05 during trading hours on Thursday. The company’s stock had a trading volume of 9,316 shares, compared to its average volume of 1,449,667. Nordic American Tanker has a fifty-two week low of $2.01 and a fifty-two week high of $2.10. The company has a current ratio of 5.01, a quick ratio of 4.10 and a debt-to-equity ratio of 0.46. The company has a market cap of $285.36 million, a P/E ratio of -2.90 and a beta of 0.74.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Thursday, May 24th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $0.04 annualized dividend and a yield of 1.95%. Nordic American Tanker’s dividend payout ratio is currently -16.90%.

NAT has been the subject of several research reports. Morgan Stanley cut their price target on Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating for the company in a research note on Monday, February 12th. Zacks Investment Research upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Credit Suisse Group cut their price target on Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, February 13th. ValuEngine upgraded Nordic American Tanker from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 19th. Finally, Maxim Group restated a “sell” rating and issued a $1.00 target price on shares of Nordic American Tanker in a research note on Monday, February 12th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.32.

Nordic American Tanker Company Profile

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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