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

Nordic American Tankers (NYSE:NAT) issued its quarterly earnings data on Wednesday. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02), Zacks reports. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The company had revenue of $46.39 million for the quarter, compared to the consensus estimate of $51.38 million.

Nordic American Tankers Trading Up 0.2 %

Shares of NYSE:NAT opened at $2.55 on Friday. The company’s 50-day moving average price is $2.66 and its two-hundred day moving average price is $3.06. Nordic American Tankers has a one year low of $2.41 and a one year high of $4.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The stock has a market capitalization of $531.39 million, a PE ratio of 8.78 and a beta of -0.31.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 9.43%. The ex-dividend date is Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 82.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a research report on Friday, February 28th.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.