Nordic American Tankers (NYSE:NAT) Announces Earnings Results, Beats Expectations By $0.01 EPS

Nordic American Tankers (NYSE:NAT) released its quarterly earnings results on Thursday. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01, Zacks reports. The business had revenue of $77.51 million during the quarter, compared to analyst estimates of $80.64 million. Nordic American Tankers had a return on equity of 9.12% and a net margin of 24.19%.

Nordic American Tankers Price Performance

Shares of NYSE:NAT opened at $5.14 on Friday. The company’s 50-day moving average is $5.67 and its 200 day moving average is $4.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.94 and a current ratio of 2.24. The company has a market capitalization of $1.09 billion, a P/E ratio of 19.04 and a beta of -0.54. Nordic American Tankers has a fifty-two week low of $2.55 and a fifty-two week high of $6.34.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th will be issued a $0.22 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 17.1%. Nordic American Tankers’s payout ratio is presently 971.43%.

Nordic American Tankers News Summary

Here are the key news stories impacting Nordic American Tankers this week:

• Positive Sentiment: Nordic American Tankers said Vice-Chairman Alexander Hansson bought 300,000 shares at $5.16 each, lifting his holdings to 5,855,000 shares and the Hansson family’s stake to 11,355,000 shares, or 5.4% of outstanding shares. Insider buying can signal management confidence in the company’s outlook. Article Title
• Positive Sentiment: The company also raised its quarterly dividend to $0.22 per share from $0.17, a 29.4% increase, signaling stronger cash generation and a more attractive yield for income-focused investors.
• Positive Sentiment: NAT reported quarterly earnings of $0.17 per share, topping analyst expectations, and management said market conditions are now the best in decades for the tanker business, which supports a constructive outlook for rates and profitability. Article Title
• Neutral Sentiment: A separate earnings snapshot reiterated the quarter’s results and the dividend announcement, reinforcing the same upbeat narrative without adding much new information. Article Title
• Negative Sentiment: Revenue for the quarter came in below estimates, so while earnings beat expectations, the top line was softer than analysts had forecast.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NAT. Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target for the company. in a research report on Tuesday, April 21st. Wall Street Zen raised Nordic American Tankers from a “hold” rating to a “buy” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Nordic American Tankers has a consensus rating of “Reduce” and a consensus target price of $4.00.

Hedge Funds Weigh In On Nordic American Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in NAT. Millennium Management LLC boosted its holdings in shares of Nordic American Tankers by 108.3% in the 3rd quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock worth $7,628,000 after buying an additional 1,263,228 shares during the last quarter. UBS Group AG boosted its holdings in shares of Nordic American Tankers by 83.9% in the 3rd quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock worth $7,152,000 after buying an additional 1,039,353 shares during the last quarter. Norges Bank purchased a new position in shares of Nordic American Tankers in the 2nd quarter worth about $1,264,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Nordic American Tankers by 9.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,754,688 shares of the shipping company’s stock worth $12,505,000 after buying an additional 427,769 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Nordic American Tankers by 49.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,268,265 shares of the shipping company’s stock worth $3,336,000 after buying an additional 421,326 shares during the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.