B. Riley Expects Lower Earnings for Nordic American Tankers

Nordic American Tankers Limited (NYSE:NATFree Report) – B. Riley dropped their FY2024 earnings per share estimates for Nordic American Tankers in a note issued to investors on Wednesday, January 15th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings per share of $0.24 for the year, down from their prior estimate of $0.26. The consensus estimate for Nordic American Tankers’ current full-year earnings is $0.25 per share. B. Riley also issued estimates for Nordic American Tankers’ Q4 2024 earnings at $0.02 EPS.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a research note on Friday, November 29th. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd.

Check Out Our Latest Stock Report on NAT

Nordic American Tankers Stock Performance

Shares of NYSE:NAT opened at $2.82 on Thursday. The firm’s 50 day simple moving average is $2.76 and its 200 day simple moving average is $3.32. Nordic American Tankers has a fifty-two week low of $2.41 and a fifty-two week high of $4.55. The company has a market capitalization of $587.77 million, a price-to-earnings ratio of 9.71 and a beta of -0.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56.

Institutional Trading of Nordic American Tankers

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in Nordic American Tankers in the second quarter valued at approximately $25,000. Raymond James Trust N.A. bought a new stake in Nordic American Tankers in the 3rd quarter valued at $37,000. Bluefin Capital Management LLC acquired a new position in Nordic American Tankers in the 2nd quarter worth $47,000. Ballentine Partners LLC increased its holdings in Nordic American Tankers by 90.7% during the 4th quarter. Ballentine Partners LLC now owns 24,737 shares of the shipping company’s stock worth $62,000 after purchasing an additional 11,767 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Nordic American Tankers by 50.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock worth $66,000 after purchasing an additional 5,347 shares in the last quarter. 44.29% of the stock is owned by institutional investors.

Nordic American Tankers Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, January 16th. Investors of record on Tuesday, December 17th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.48 annualized dividend and a dividend yield of 17.05%. Nordic American Tankers’s dividend payout ratio is presently 55.17%.

Nordic American Tankers Company Profile

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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.

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