Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Friday, July 21st, Fidelity reports. Investors of record on Monday, August 14th will be paid a dividend of 0.15 per share by the shipping company on Thursday, August 31st. This represents a $0.60 annualized dividend and a yield of 12.02%. The ex-dividend date is Thursday, August 10th.
Nordic American Tankers Limited has raised its dividend by an average of 28.9% per year over the last three years. Nordic American Tankers Limited has a payout ratio of -102.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Nordic American Tankers Limited to earn $0.17 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 235.3%.
Shares of Nordic American Tankers Limited (NYSE NAT) traded down 2.35% on Friday, reaching $4.99. The company had a trading volume of 2,538,090 shares. Nordic American Tankers Limited has a 1-year low of $4.70 and a 1-year high of $11.02. The firm’s market capitalization is $508.83 million. The firm has a 50-day moving average price of $5.83 and a 200 day moving average price of $7.06.
Nordic American Tankers Limited (NYSE:NAT) last announced its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The company had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $42.47 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was down 29.2% on a year-over-year basis. Equities research analysts predict that Nordic American Tankers Limited will post ($0.39) earnings per share for the current year.
A number of analysts recently weighed in on NAT shares. Vetr cut shares of Nordic American Tankers Limited from a “strong-buy” rating to a “buy” rating and set a $6.89 price target for the company. in a research report on Thursday, June 1st. TheStreet cut shares of Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Nordic American Tankers Limited from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Jefferies Group LLC reaffirmed a “sell” rating and set a $5.00 price target (down from $7.00) on shares of Nordic American Tankers Limited in a research report on Monday, May 8th. Finally, 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 research report on Monday, May 8th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Nordic American Tankers Limited presently has an average rating of “Hold” and an average target price of $6.93.
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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