Nordic American Tanker Ltd (NYSE:NAT) declared a quarterly dividend on Friday, April 27th, Zacks reports. Investors of record on Thursday, May 24th will be given a dividend of 0.01 per share by the shipping company on Tuesday, June 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Wednesday, May 23rd.
Nordic American Tanker has decreased its dividend by an average of 10.5% per year over the last three years. Nordic American Tanker has a dividend 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 ($0.04) 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 -300.0%.
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Nordic American Tanker opened at $2.21 on Friday, Marketbeat Ratings reports. Nordic American Tanker has a fifty-two week low of $2.01 and a fifty-two week high of $2.10. The company has a quick ratio of 4.10, a current ratio of 5.01 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $291.04 million, a P/E ratio of -3.11 and a beta of 0.74.
Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings data on Wednesday, May 16th. The shipping company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. Nordic American Tanker had a negative net margin of 48.82% and a negative return on equity of 9.01%. analysts predict that Nordic American Tanker will post -0.51 earnings per share for the current year.
Several research analysts have commented on NAT shares. ValuEngine raised shares of Nordic American Tanker from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 19th. Zacks Investment Research raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Morgan Stanley dropped their price objective on shares of Nordic American Tanker from $2.50 to $2.25 and set an “equal weight” rating for the company in a research note on Wednesday, April 25th. Seaport Global Securities set a $3.00 price objective on shares of Nordic American Tanker and gave the stock a “hold” rating in a research note on Monday, February 12th. Finally, Credit Suisse Group dropped their price objective on shares of Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, February 13th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Nordic American Tanker has a consensus rating of “Hold” and an average target price of $3.32.
About Nordic American Tanker
Nordic American Tankers Limited, a tanker company, engages in acquiring and chartering double-hull tankers worldwide. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.