Nordic American Tankers (NYSE:NAT) Posts Earnings Results, Beats Estimates By $0.02 EPS

Nordic American Tankers (NYSE:NAT – Get Rating) released its quarterly earnings data on Monday. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02, MarketWatch Earnings reports. Nordic American Tankers had a net margin of 37.03% and a return on equity of 17.23%. The company had revenue of $87.09 million during the quarter, compared to the consensus estimate of $79.55 million. During the same period last year, the firm earned ($0.14) EPS.

Nordic American Tankers Stock Up 0.3 %

Shares of NAT stock traded up $0.01 during trading on Wednesday, reaching $3.84. The company’s stock had a trading volume of 377,790 shares, compared to its average volume of 3,154,974. The business has a fifty day moving average price of $3.67 and a 200-day moving average price of $3.52. The company has a quick ratio of 1.62, a current ratio of 1.97 and a debt-to-equity ratio of 0.49. The company has a market cap of $801.79 million, a price-to-earnings ratio of 9.12 and a beta of 0.09. Nordic American Tankers has a one year low of $1.80 and a one year high of $4.65.

Nordic American Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 15.63%. The ex-dividend date of this dividend is Wednesday, June 14th. Nordic American Tankers’s payout ratio is currently 142.86%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. B. Riley lifted their price target on shares of Nordic American Tankers from $5.00 to $5.50 and gave the company a “buy” rating in a report on Tuesday, February 28th. TheStreet upgraded shares of Nordic American Tankers from a “c+” rating to a “b” rating in a research report on Monday. Jefferies Financial Group raised their price objective on shares of Nordic American Tankers from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Finally, StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors have recently added to or reduced their stakes in NAT. Dynamic Technology Lab Private Ltd bought a new position in shares of Nordic American Tankers in the first quarter valued at about $67,000. FMR LLC increased its position in Nordic American Tankers by 29.1% during the first quarter. FMR LLC now owns 13,308 shares of the shipping company’s stock worth $53,000 after acquiring an additional 2,999 shares during the period. Verition Fund Management LLC bought a new position in Nordic American Tankers during the second quarter worth about $52,000. Tower Research Capital LLC TRC increased its position in Nordic American Tankers by 266.4% during the third quarter. Tower Research Capital LLC TRC now owns 19,603 shares of the shipping company’s stock worth $52,000 after acquiring an additional 14,253 shares during the period. Finally, Bleakley Financial Group LLC bought a new position in Nordic American Tankers during the first quarter worth about $52,000. 40.41% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

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Nordic American Tankers Ltd. operates as an international tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.