Nordic American Tanker Ltd to Issue Quarterly Dividend of $0.03 (NAT)

Nordic American Tanker Ltd (NYSE:NAT) announced a quarterly dividend on Friday, January 26th, Zacks reports. Investors of record on Wednesday, February 21st will be paid a dividend of 0.03 per share by the shipping company on Friday, March 9th. This represents a $0.12 annualized dividend and a yield of 5.48%. The ex-dividend date is Tuesday, February 20th.

Nordic American Tanker has decreased its dividend payment by an average of 10.5% per year over the last three years. Nordic American Tanker has a payout ratio of -19.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Nordic American Tanker to earn $0.01 per share next year, which means the company may not be able to cover its $0.12 annual dividend with an expected future payout ratio of 1,200.0%.

Shares of Nordic American Tanker (NAT) opened at $2.19 on Thursday. Nordic American Tanker has a 1 year low of $1.82 and a 1 year high of $8.68. The company has a market cap of $305.19, a PE ratio of -2.42 and a beta of 0.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.71 and a current ratio of 3.52.

Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings data on Monday, February 12th. The shipping company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). Nordic American Tanker had a negative net margin of 26.31% and a negative return on equity of 17.48%. The firm had revenue of $36.72 million for the quarter, compared to analysts’ expectations of $45.46 million. equities analysts predict that Nordic American Tanker will post -0.36 earnings per share for the current fiscal year.

NAT has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Maxim Group reissued a “sell” rating and set a $3.00 price objective (down from $4.00) on shares of Nordic American Tanker in a research report on Monday, October 23rd. Morgan Stanley cut their price objective on shares of Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 8th. Seaport Global Securities set a $3.00 price objective on shares of Nordic American Tanker and gave the company a “hold” rating in a research report on Friday, January 5th. Finally, Jefferies Group raised shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price objective on the stock in a research report on Thursday, December 14th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $3.36.

TRADEMARK VIOLATION WARNING: “Nordic American Tanker Ltd to Issue Quarterly Dividend of $0.03 (NAT)” was originally published by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & international trademark and copyright laws. The original version of this news story can be viewed at https://www.themarketsdaily.com/2018/02/15/nordic-american-tanker-ltd-to-issue-quarterly-dividend-of-0-03-nat.html.

Nordic American Tanker Company Profile

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Dividend History for Nordic American Tanker (NYSE:NAT)

Receive News & Ratings for Nordic American Tanker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tanker and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply