Nordic American Tankers Limited Expected to Earn FY2023 Earnings of $0.62 Per Share (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT – Get Rating) – Investment analysts at B. Riley boosted their FY2023 earnings estimates for Nordic American Tankers in a report issued on Monday, May 22nd. B. Riley analyst L. Burke now expects that the shipping company will post earnings of $0.62 per share for the year, up from their previous forecast of $0.44. B. Riley currently has a “Buy” rating and a $5.50 price target on the stock. The consensus estimate for Nordic American Tankers’ current full-year earnings is $0.63 per share. B. Riley also issued estimates for Nordic American Tankers’ FY2024 earnings at $0.66 EPS.

Other analysts also recently issued reports about the company. TheStreet upgraded Nordic American Tankers from a “c+” rating to a “b” rating in a report on Monday. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Financial Group raised their target price on Nordic American Tankers from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Monday, February 27th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Nordic American Tankers presently has an average rating of “Moderate Buy” and an average target price of $5.25.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock opened at $3.70 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $3.67 and a two-hundred day moving average price of $3.52. Nordic American Tankers has a 1-year low of $1.80 and a 1-year high of $4.65. The company has a market cap of $772.56 million, a P/E ratio of 8.81 and a beta of 0.09.

Nordic American Tankers (NYSE:NAT – Get Rating) last issued its quarterly earnings data on Monday, May 22nd. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Nordic American Tankers had a net margin of 37.03% and a return on equity of 16.91%. The company had revenue of $87.09 million for the quarter, compared to analysts’ expectations of $79.55 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share.

Nordic American Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be given a $0.15 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.60 annualized dividend and a yield of 16.22%. Nordic American Tankers’s payout ratio is 142.86%.

Hedge Funds Weigh In On Nordic American Tankers

Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its position in shares of Nordic American Tankers by 112.4% during the 1st quarter. Advisory Services Network LLC now owns 28,350 shares of the shipping company’s stock worth $112,000 after buying an additional 15,000 shares in the last quarter. State Street Corp lifted its position in shares of Nordic American Tankers by 3.2% during the 1st quarter. State Street Corp now owns 3,455,675 shares of the shipping company’s stock worth $13,684,000 after buying an additional 107,690 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nordic American Tankers by 5.1% during the 1st quarter. Geode Capital Management LLC now owns 1,946,088 shares of the shipping company’s stock worth $7,707,000 after buying an additional 93,938 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Nordic American Tankers by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 57,698 shares of the shipping company’s stock worth $228,000 after buying an additional 12,554 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Nordic American Tankers by 157.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,284,445 shares of the shipping company’s stock worth $5,086,000 after buying an additional 786,200 shares in the last quarter. Institutional investors own 40.41% of the company’s stock.

About Nordic American Tankers

(Get Rating)

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.