Nordic American Tankers Limited Announces Quarterly Dividend of $0.12 (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Wednesday, May 29th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.12 per share by the shipping company on Thursday, July 18th. This represents a $0.48 annualized dividend and a dividend yield of 11.50%. The ex-dividend date is Friday, June 28th.

Nordic American Tankers has increased its dividend by an average of 2.9% annually over the last three years. Nordic American Tankers has a dividend payout ratio of 64.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nordic American Tankers to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 87.3%.

Nordic American Tankers Trading Up 1.1 %

NYSE NAT opened at $4.18 on Thursday. Nordic American Tankers has a 1-year low of $3.45 and a 1-year high of $4.83. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $871.74 million, a PE ratio of 13.05 and a beta of -0.12. The firm’s fifty day simple moving average is $4.05 and its 200-day simple moving average is $4.12.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. The company had revenue of $60.57 million during the quarter, compared to analyst estimates of $66.19 million. As a group, sell-side analysts anticipate that Nordic American Tankers will post 0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NAT has been the topic of a number of research reports. Jefferies Financial Group dropped their price target on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Evercore ISI lowered their target price on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating on the stock in a research report on Thursday, February 29th. Finally, StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.17.

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 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.