Nordic American Tankers Limited Expected to Earn Q1 2024 Earnings of $0.11 Per Share (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT) – Stock analysts at B. Riley reduced their Q1 2024 earnings per share estimates for shares of Nordic American Tankers in a report issued on Thursday, April 11th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $0.11 per share for the quarter, down from their previous estimate of $0.12. The consensus estimate for Nordic American Tankers’ current full-year earnings is $0.60 per share. B. Riley also issued estimates for Nordic American Tankers’ Q2 2024 earnings at $0.01 EPS, FY2024 earnings at $0.40 EPS and FY2025 earnings at $0.52 EPS.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Friday, March 1st. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). Nordic American Tankers had a net margin of 37.65% and a return on equity of 18.12%. The firm had revenue of $59.25 million during the quarter, compared to analysts’ expectations of $68.90 million. During the same period in the previous year, the firm posted $0.17 earnings per share.

Other analysts also recently issued reports about the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $5.50 price objective on shares of Nordic American Tankers in a research note on Thursday, February 29th. TheStreet downgraded Nordic American Tankers from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Evercore ISI reduced their price objective on Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating for the company in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Nordic American Tankers Stock Down 2.5 %

Nordic American Tankers stock opened at $3.88 on Monday. Nordic American Tankers has a fifty-two week low of $3.26 and a fifty-two week high of $4.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.55. The company has a market capitalization of $810.13 million, a P/E ratio of 8.26 and a beta of -0.10. The stock has a 50-day simple moving average of $4.05 and a 200-day simple moving average of $4.21.

Hedge Funds Weigh In On Nordic American Tankers

A number of large investors have recently modified their holdings of NAT. Barclays PLC grew its holdings in shares of Nordic American Tankers by 88.5% in the 3rd quarter. Barclays PLC now owns 77,203 shares of the shipping company’s stock worth $318,000 after acquiring an additional 36,245 shares during the period. Qube Research & Technologies Ltd grew its holdings in Nordic American Tankers by 783.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 484,179 shares of the shipping company’s stock valued at $1,995,000 after buying an additional 429,396 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Nordic American Tankers during the 3rd quarter valued at $846,000. CoreCap Advisors LLC acquired a new stake in Nordic American Tankers during the 4th quarter valued at $105,000. Finally, Greylin Investment Management Inc grew its holdings in Nordic American Tankers by 11.1% during the 3rd quarter. Greylin Investment Management Inc now owns 1,108,160 shares of the shipping company’s stock valued at $4,566,000 after buying an additional 110,274 shares during the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.37%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, March 19th. Nordic American Tankers’s dividend payout ratio is 102.13%.

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 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.