Shares of Nordic American Tankers Limited (NYSE:NAT – Get Rating) gapped up before the market opened on Monday following a better than expected earnings announcement. The stock had previously closed at $3.70, but opened at $3.93. Nordic American Tankers shares last traded at $3.97, with a volume of 1,575,650 shares.
The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Nordic American Tankers had a return on equity of 17.23% and a net margin of 37.03%. The company had revenue of $87.09 million for the quarter, compared to the consensus estimate of $79.55 million. During the same period in the previous year, the business earned ($0.14) earnings per share.
Nordic American Tankers Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 15.67%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 142.86%.
Analyst Upgrades and Downgrades
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC bought a new position in Nordic American Tankers in the third quarter worth approximately $27,000. Aigen Investment Management LP bought a new position in Nordic American Tankers in the third quarter worth approximately $274,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Nordic American Tankers by 13.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 766,974 shares of the shipping company’s stock worth $2,048,000 after purchasing an additional 89,514 shares in the last quarter. Moors & Cabot Inc. grew its stake in Nordic American Tankers by 16.1% in the fourth quarter. Moors & Cabot Inc. now owns 81,000 shares of the shipping company’s stock worth $137,000 after purchasing an additional 11,225 shares in the last quarter. Finally, AE Wealth Management LLC bought a new position in Nordic American Tankers in the fourth quarter worth approximately $35,000. Institutional investors own 40.41% of the company’s stock.
Nordic American Tankers Stock Performance
The firm has a 50 day moving average of $3.67 and a 200-day moving average of $3.52. The company has a quick ratio of 1.62, a current ratio of 1.97 and a debt-to-equity ratio of 0.49. The company has a market cap of $799.70 million, a P/E ratio of 9.12 and a beta of 0.09.
About Nordic American Tankers
Nordic American Tankers Ltd. operates as an international tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.
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