Nordic American Tanker Ltd (NYSE:NAT) – Stock analysts at B. Riley reduced their Q2 2019 earnings per share estimates for Nordic American Tanker in a report issued on Wednesday, May 15th. B. Riley analyst L. Burke now expects that the shipping company will earn ($0.10) per share for the quarter, down from their previous estimate of ($0.05). B. Riley also issued estimates for Nordic American Tanker’s Q3 2019 earnings at $0.00 EPS, FY2019 earnings at $0.01 EPS and FY2020 earnings at $0.37 EPS.
Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings results on Tuesday, May 14th. The shipping company reported $0.04 earnings per share for the quarter. The company had revenue of $53.63 million during the quarter, compared to analysts’ expectations of $49.84 million. Nordic American Tanker had a negative return on equity of 7.36% and a negative net margin of 47.28%.
Shares of NYSE NAT opened at $2.69 on Monday. The firm has a market capitalization of $366.92 million, a PE ratio of -4.41 and a beta of 0.58. Nordic American Tanker has a fifty-two week low of $1.81 and a fifty-two week high of $3.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.11 and a quick ratio of 2.55.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. City Financial Investment Co Ltd purchased a new position in Nordic American Tanker during the fourth quarter worth about $2,532,000. Wells Fargo & Company MN grew its position in Nordic American Tanker by 161.5% during the first quarter. Wells Fargo & Company MN now owns 1,003,214 shares of the shipping company’s stock worth $2,026,000 after buying an additional 619,611 shares in the last quarter. Morgan Stanley grew its position in Nordic American Tanker by 6.6% during the third quarter. Morgan Stanley now owns 4,858,639 shares of the shipping company’s stock worth $10,155,000 after buying an additional 300,750 shares in the last quarter. AQR Capital Management LLC purchased a new position in Nordic American Tanker during the first quarter worth about $590,000. Finally, Renaissance Technologies LLC grew its position in Nordic American Tanker by 126.8% during the first quarter. Renaissance Technologies LLC now owns 404,000 shares of the shipping company’s stock worth $816,000 after buying an additional 225,900 shares in the last quarter. Institutional investors own 26.44% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Friday, May 24th. Nordic American Tanker’s dividend payout ratio (DPR) is presently -26.23%.
About Nordic American Tanker
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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