B. Riley Comments on Nordic American Tankers Limited’s FY2024 Earnings (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT – Get Rating) – Equities researchers at B. Riley issued their FY2024 earnings per share (EPS) estimates for Nordic American Tankers in a research note issued to investors on Monday, February 27th. B. Riley analyst L. Burke forecasts that the shipping company will earn $0.23 per share for the year. B. Riley 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 $0.55 per share.

Nordic American Tankers (NYSE:NAT – Get Rating) last released its quarterly earnings data on Monday, February 27th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.05). Nordic American Tankers had a net margin of 8.95% and a return on equity of 2.96%. The company had revenue of $71.10 million during the quarter, compared to analyst estimates of $83.48 million. During the same quarter in the prior year, the company earned ($0.12) EPS.

Several other research firms also recently issued reports on NAT. Jefferies Financial Group upped their price objective on shares of Nordic American Tankers from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, TheStreet upgraded shares of Nordic American Tankers from a “d+” rating to a “c” rating in a research note on Wednesday, November 30th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.25.

Nordic American Tankers Stock Performance

NYSE NAT opened at $4.50 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.96 and a quick ratio of 1.46. Nordic American Tankers has a 1 year low of $1.74 and a 1 year high of $4.55. The company has a market capitalization of $870.57 million, a PE ratio of 75.00 and a beta of 0.13. The company has a fifty day moving average of $3.31 and a two-hundred day moving average of $3.19.

Institutional Investors Weigh In On Nordic American Tankers

Several hedge funds have recently made changes to their positions in NAT. Mackenzie Financial Corp acquired a new stake in shares of Nordic American Tankers during the second quarter worth about $25,000. Kestra Private Wealth Services LLC acquired a new stake in Nordic American Tankers in the first quarter valued at about $25,000. Arete Wealth Advisors LLC acquired a new stake in Nordic American Tankers in the third quarter valued at about $27,000. Quantbot Technologies LP acquired a new stake in Nordic American Tankers in the second quarter valued at about $30,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Nordic American Tankers in the third quarter valued at about $31,000. Institutional investors and hedge funds own 40.41% of the company’s stock.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be paid a dividend of $0.15 per share. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.60 annualized dividend and a dividend yield of 13.33%. Nordic American Tankers’s dividend payout ratio is 333.33%.

Nordic American Tankers Company Profile

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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.