Nordic American Tankers Limited (NYSE:NAT) Declares Quarterly Dividend of $0.12

Nordic American Tankers Limited (NYSE:NAT) announced a quarterly dividend on Wednesday, May 29th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.12 per share by the shipping company on Thursday, July 18th. This represents a $0.48 annualized dividend and a yield of 11.50%. The ex-dividend date of this dividend is Friday, June 28th.

Nordic American Tankers has raised its dividend by an average of 2.9% annually over the last three years. Nordic American Tankers has a dividend payout ratio of 64.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nordic American Tankers to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 87.3%.

Nordic American Tankers Trading Up 1.1 %

NAT opened at $4.18 on Thursday. The stock has a market capitalization of $871.74 million, a P/E ratio of 13.05 and a beta of -0.12. Nordic American Tankers has a 12 month low of $3.45 and a 12 month high of $4.83. The firm’s fifty day simple moving average is $4.05 and its 200 day simple moving average is $4.12. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.04). Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. The business had revenue of $60.57 million for the quarter, compared to the consensus estimate of $66.19 million. As a group, research analysts anticipate that Nordic American Tankers will post 0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NAT shares. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Jefferies Financial Group decreased their price target on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Finally, Evercore ISI decreased their price target on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating on the stock in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Nordic American Tankers has an average rating of “Moderate Buy” and a consensus price target of $5.17.

About Nordic American Tankers

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.