B. Riley Equities Analysts Boost Earnings Estimates for Nordic American Tankers Limited (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NATGet Rating) – Equities research analysts at B. Riley lifted their Q2 2022 earnings per share estimates for shares of Nordic American Tankers in a research report issued on Tuesday, May 31st. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings per share of ($0.06) for the quarter, up from their prior forecast of ($0.08). B. Riley also issued estimates for Nordic American Tankers’ Q3 2022 earnings at ($0.03) EPS, FY2022 earnings at ($0.19) EPS and FY2023 earnings at $0.03 EPS.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group started coverage on shares of Nordic American Tankers in a research report on Wednesday, April 27th. They set a “hold” rating and a $2.50 target price on the stock. Zacks Investment Research upgraded shares of Nordic American Tankers from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Nordic American Tankers has a consensus rating of “Buy” and an average price target of $3.19.

NAT stock opened at $2.04 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.59 and a quick ratio of 1.28. Nordic American Tankers has a twelve month low of $1.40 and a twelve month high of $3.64. The company’s 50 day moving average is $2.46 and its two-hundred day moving average is $2.03.

A number of institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in Nordic American Tankers by 126.4% in the third quarter. Citigroup Inc. now owns 17,382 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 9,704 shares during the period. California State Teachers Retirement System raised its stake in shares of Nordic American Tankers by 13.6% during the 4th quarter. California State Teachers Retirement System now owns 92,291 shares of the shipping company’s stock worth $156,000 after buying an additional 11,084 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Nordic American Tankers during the 1st quarter worth $25,000. Huntington National Bank raised its stake in shares of Nordic American Tankers by 89.5% during the 1st quarter. Huntington National Bank now owns 24,824 shares of the shipping company’s stock worth $53,000 after buying an additional 11,723 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of Nordic American Tankers during the 1st quarter worth $30,000. 28.47% of the stock is owned by institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Tuesday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 3.92%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.01. Nordic American Tankers’s dividend payout ratio (DPR) is -5.63%.

About Nordic American Tankers (Get Rating)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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