Q1 2024 EPS Estimates for Nordic American Tankers Limited (NYSE:NAT) Decreased by B. Riley

Nordic American Tankers Limited (NYSE:NAT - Free Report) - Equities researchers at B. Riley dropped their Q1 2024 earnings estimates for shares of Nordic American Tankers in a note issued to investors on Thursday, April 11th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.12. The consensus estimate for Nordic American Tankers' current full-year earnings is $0.60 per share. B. Riley also issued estimates for Nordic American Tankers' Q2 2024 earnings at $0.01 EPS, FY2024 earnings at $0.40 EPS and FY2025 earnings at $0.52 EPS.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its earnings results on Friday, March 1st. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.06). The firm had revenue of $59.25 million during the quarter, compared to analysts' expectations of $68.90 million. Nordic American Tankers had a return on equity of 18.12% and a net margin of 37.65%. During the same period in the prior year, the company earned $0.17 EPS.

Several other brokerages also recently weighed in on NAT. Evercore ISI reduced their price target on Nordic American Tankers from $5.00 to $4.50 and set an "in-line" rating for the company in a report on Thursday, February 29th. TheStreet downgraded Nordic American Tankers from a "b-" rating to a "c+" rating in a research note on Monday, February 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $5.50 price objective on shares of Nordic American Tankers in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.33.

Nordic American Tankers Stock Down 1.4 %

NAT traded down $0.05 during trading on Monday, reaching $3.83. The stock had a trading volume of 2,366,727 shares, compared to its average volume of 2,960,184. The stock's 50 day moving average is $4.04 and its two-hundred day moving average is $4.21. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $798.66 million, a price-to-earnings ratio of 8.14 and a beta of -0.10. Nordic American Tankers has a one year low of $3.26 and a one year high of $4.83.

Institutional Trading of Nordic American Tankers

Institutional investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC acquired a new position in shares of Nordic American Tankers during the 1st quarter worth about $25,000. Quantbot Technologies LP purchased a new stake in Nordic American Tankers during the 2nd quarter valued at approximately $30,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Nordic American Tankers during the 3rd quarter worth approximately $31,000. Franklin Resources Inc. purchased a new position in shares of Nordic American Tankers during the 4th quarter worth approximately $36,000. Finally, Clear Street Markets LLC acquired a new stake in shares of Nordic American Tankers in the 4th quarter worth approximately $37,000. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.06. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.55%. Nordic American Tankers's payout ratio is currently 102.13%.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.