Nordic American Tanker Ltd (NYSE:NAT) declared a quarterly dividend on Tuesday, February 18th, Zacks reports. Stockholders of record on Monday, March 2nd will be given a dividend of 0.07 per share by the shipping company on Monday, March 16th. This represents a $0.28 annualized dividend and a dividend yield of 9.66%. The ex-dividend date is Friday, February 28th. This is an increase from Nordic American Tanker’s previous quarterly dividend of $0.02.
Nordic American Tanker has decreased its dividend by an average of 19.2% annually over the last three years and has raised its dividend every year for the last 1 years. Nordic American Tanker has a dividend payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nordic American Tanker to earn $0.78 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 35.9%.
NAT stock opened at $2.90 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.83 and a current ratio of 2.18. The company has a market capitalization of $403.19 million, a price-to-earnings ratio of -36.25 and a beta of 0.92. Nordic American Tanker has a fifty-two week low of $1.66 and a fifty-two week high of $5.28. The stock has a fifty day moving average of $3.81 and a 200-day moving average of $3.37.
Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.08). The firm had revenue of $58.82 million for the quarter, compared to the consensus estimate of $72.97 million. Nordic American Tanker had a negative return on equity of 1.77% and a negative net margin of 5.90%. Equities analysts predict that Nordic American Tanker will post 0.65 EPS for the current year.
Several research analysts have commented on NAT shares. B. Riley restated a “buy” rating and issued a $4.75 target price on shares of Nordic American Tanker in a research note on Monday, December 16th. ValuEngine downgraded Nordic American Tanker from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 28th. Finally, Zacks Investment Research downgraded Nordic American Tanker from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $4.75.
About Nordic American Tanker
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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