Nordic American Tankers Limited (NYSE:NAT) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Nordic American Tankers Limited (NYSE:NAT) posted its quarterly earnings results on Monday. The shipping company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.03, Briefing.com reports. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business had revenue of $39.10 million during the quarter, compared to analyst estimates of $42.47 million. During the same period last year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was down 29.2% on a year-over-year basis.
Nordic American Tankers Limited (NYSE NAT) traded down 1.05% during mid-day trading on Monday, hitting $5.65. 712,612 shares of the company’s stock were exchanged. Nordic American Tankers Limited has a 52 week low of $5.47 and a 52 week high of $12.52. The firm has a 50 day moving average of $6.10 and a 200 day moving average of $7.40. The stock’s market capitalization is $576.12 million.
The business also recently declared a dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio (DPR) is 4,000.00%.
NAT has been the subject of several research reports. Vetr raised shares of Nordic American Tankers Limited from a “hold” rating to a “buy” rating and set a $7.08 price target for the company in a report on Wednesday, May 24th. Zacks Investment Research lowered shares of Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 price target (down from $7.00) on shares of Nordic American Tankers Limited in a report on Monday, May 8th. Maxim Group decreased their price target on shares of Nordic American Tankers Limited from $6.00 to $5.00 and set a “sell” rating for the company in a report on Monday, May 15th. Finally, BidaskClub lowered shares of Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $6.93.
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About Nordic American Tankers Limited
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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