Nordic American Tankers Limited (NAT) to Issue Quarterly Dividend of $0.27 on September 24th

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Wednesday, August 26th. Investors of record on Thursday, September 10th will be paid a dividend of 0.27 per share by the shipping company on Thursday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date is Thursday, September 10th. This is a 22.7% increase from Nordic American Tankers’s previous quarterly dividend of $0.22.

Nordic American Tankers has decreased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Nordic American Tankers has a dividend payout ratio of 308.6% 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 Tankers to earn $0.51 per share next year, which means the company may not be able to cover its $1.08 annual dividend with an expected future payout ratio of 211.8%.

Nordic American Tankers Price Performance

Nordic American Tankers stock opened at $7.25 on Tuesday. Nordic American Tankers has a 1-year low of $3.06 and a 1-year high of $7.35. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 12.29 and a beta of -0.54. The company has a current ratio of 3.27, a quick ratio of 3.05 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average price is $6.46 and its two-hundred day moving average price is $5.89.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Thursday, August 27th. The shipping company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $79.30 million during the quarter, compared to analyst estimates of $84.18 million. Nordic American Tankers had a return on equity of 20.58% and a net margin of 47.04%. On average, equities research analysts predict that Nordic American Tankers will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on NAT. B. Riley Financial increased their price target on Nordic American Tankers from $7.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 28th. B Riley reiterated a “buy” rating on shares of Nordic American Tankers in a research note on Friday, August 28th. Wall Street Zen upgraded shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings downgraded shares of Nordic American Tankers from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.33.

About Nordic American Tankers

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.