B. Riley Brokers Decrease Earnings Estimates for NAT

Nordic American Tankers Limited (NYSE:NAT) – Investment analysts at B. Riley reduced their FY2024 earnings estimates for Nordic American Tankers in a note issued to investors on Wednesday, January 15th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $0.24 per share for the year, down from their prior forecast 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 have also recently issued reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 29th. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd.

Nordic American Tankers Stock Performance

NYSE NAT opened at $2.82 on Thursday. The firm has a market cap of $587.77 million, a price-to-earnings ratio of 9.71 and a beta of -0.29. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 1-year low of $2.41 and a 1-year high of $4.55. The company has a 50 day moving average of $2.76 and a 200-day moving average of $3.32.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NAT. Headlands Technologies LLC acquired a new position in shares of Nordic American Tankers during the second quarter valued at $25,000. American Century Companies Inc. lifted its position in Nordic American Tankers by 40.5% during the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after purchasing an additional 1,009,096 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after purchasing an additional 621,588 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Nordic American Tankers during the 2nd quarter worth approximately $260,000. Finally, Sei Investments Co. raised its stake in shares of Nordic American Tankers by 9.1% during the second quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock worth $365,000 after buying an additional 7,663 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Announces Dividend

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

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.