Nordic American Tanker Ltd (NYSE:NAT) declared a quarterly dividend on Tuesday, May 14th, NASDAQ reports. Stockholders of record on Tuesday, May 28th will be given a dividend of 0.03 per share by the shipping company on Wednesday, June 12th. This represents a $0.12 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Friday, May 24th.
Nordic American Tanker has decreased its dividend payment by an average of 63.0% annually over the last three years. Nordic American Tanker has a payout ratio of -26.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Nordic American Tanker to earn $0.20 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 60.0%.
NAT traded down $0.10 during trading hours on Friday, hitting $2.19. 1,031,231 shares of the stock were exchanged, compared to its average volume of 1,282,172. Nordic American Tanker has a 12 month low of $1.81 and a 12 month high of $3.47. The stock has a market capitalization of $289.62 million, a PE ratio of -3.59 and a beta of 0.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.11 and a quick ratio of 2.55.
Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings data on Tuesday, May 14th. The shipping company reported $0.04 earnings per share (EPS) for the quarter. Nordic American Tanker had a negative return on equity of 7.36% and a negative net margin of 47.28%. The firm had revenue of $53.63 million for the quarter, compared to analysts’ expectations of $49.84 million. As a group, research analysts anticipate that Nordic American Tanker will post -0.11 earnings per share for the current fiscal year.
A number of research analysts have recently commented on NAT shares. Maxim Group set a $1.00 price target on Nordic American Tanker and gave the company a “sell” rating in a report on Wednesday, February 20th. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.60.
A hedge fund recently raised its stake in Nordic American Tanker stock. Geode Capital Management LLC increased its holdings in shares of Nordic American Tanker Ltd (NYSE:NAT) by 18.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 490,347 shares of the shipping company’s stock after purchasing an additional 76,914 shares during the quarter. Geode Capital Management LLC owned 0.35% of Nordic American Tanker worth $980,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 24.17% of the company’s stock.
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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