B. Riley Weighs in on Nordic American Tankers Limited’s FY2023 Earnings (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT – Get Rating) – Research analysts at B. Riley upped their FY2023 earnings per share estimates for shares of Nordic American Tankers in a research note issued on Monday, May 22nd. B. Riley analyst L. Burke now forecasts that the shipping company will earn $0.62 per share for the year, up from their previous estimate of $0.44. B. Riley currently has a “Buy” rating and a $5.50 target price on the stock. The consensus estimate for Nordic American Tankers’ current full-year earnings is $0.57 per share. B. Riley also issued estimates for Nordic American Tankers’ FY2024 earnings at $0.66 EPS.

A number of other equities research analysts have also recently weighed in on NAT. TheStreet upgraded Nordic American Tankers from a “c+” rating to a “b” rating in a research note on Monday. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Jefferies Financial Group increased their price objective on Nordic American Tankers from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.25.

Nordic American Tankers Stock Up 0.3 %

NAT opened at $3.84 on Wednesday. Nordic American Tankers has a 1-year low of $1.80 and a 1-year high of $4.65. The stock’s fifty day simple moving average is $3.67 and its 200 day simple moving average is $3.52. The company has a current ratio of 1.97, a quick ratio of 1.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $801.79 million, a PE ratio of 9.14 and a beta of 0.09.

Nordic American Tankers (NYSE:NAT – Get Rating) last posted its quarterly earnings results on Monday, May 22nd. The shipping company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Nordic American Tankers had a return on equity of 17.23% and a net margin of 37.03%. The business had revenue of $87.09 million for the quarter, compared to analysts’ expectations of $79.55 million. During the same quarter in the prior year, the business earned ($0.14) EPS.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Nordic American Tankers by 5.0% in the third quarter. BlackRock Inc. now owns 11,429,743 shares of the shipping company’s stock valued at $30,517,000 after buying an additional 543,609 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Nordic American Tankers by 42.5% during the fourth quarter. Millennium Management LLC now owns 7,464,144 shares of the shipping company’s stock valued at $22,840,000 after purchasing an additional 2,225,910 shares in the last quarter. Morgan Stanley boosted its stake in shares of Nordic American Tankers by 0.8% during the fourth quarter. Morgan Stanley now owns 6,792,916 shares of the shipping company’s stock valued at $20,786,000 after purchasing an additional 57,089 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Nordic American Tankers by 77.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,327,573 shares of the shipping company’s stock valued at $25,057,000 after purchasing an additional 2,756,627 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Nordic American Tankers by 68.6% during the first quarter. Two Sigma Advisers LP now owns 3,810,800 shares of the shipping company’s stock valued at $15,091,000 after purchasing an additional 1,550,900 shares in the last quarter. Institutional investors own 40.41% of the company’s stock.

Nordic American Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 15.63%. The ex-dividend date of this dividend is Wednesday, June 14th. Nordic American Tankers’s payout ratio is currently 142.86%.

Nordic American Tankers Company Profile

(Get Rating)

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.