What is B. Riley's Estimate for NAT FY2024 Earnings?

Nordic American Tankers Limited (NYSE:NAT - Free Report) - Equities researchers at B. Riley lowered their FY2024 EPS estimates for Nordic American Tankers in a report issued on Wednesday, January 15th. B. Riley analyst L. Burke now forecasts that the shipping company will earn $0.24 per share 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 research analysts have also issued research reports about the company. StockNews.com raised Nordic American Tankers from a "sell" rating to a "hold" rating in a report on Monday, December 2nd. Jefferies Financial Group reiterated a "hold" rating and set a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 29th.

Nordic American Tankers Stock Down 2.0 %

Shares of NAT stock traded down $0.06 on Thursday, hitting $2.75. The company's stock had a trading volume of 3,335,935 shares, compared to its average volume of 3,431,118. The stock has a market capitalization of $573.16 million, a price-to-earnings ratio of 9.47 and a beta of -0.29. Nordic American Tankers has a fifty-two week low of $2.41 and a fifty-two week high of $4.55. The firm's fifty day moving average price is $2.75 and its 200-day moving average price is $3.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56.

Nordic American Tankers Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.48 annualized dividend and a dividend yield of 17.49%. Nordic American Tankers's payout ratio is 55.17%.

Institutional Trading of Nordic American Tankers

Hedge funds have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Nordic American Tankers by 274.8% during the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company's stock worth $984,000 after acquiring an additional 196,571 shares during the period. Philip James Wealth Mangement LLC acquired a new stake in Nordic American Tankers during the third quarter valued at approximately $4,069,000. Dimensional Fund Advisors LP raised its holdings 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 worth $46,195,000 after buying an additional 621,588 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Nordic American Tankers by 180.9% during the 2nd quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company's stock worth $1,674,000 after buying an additional 270,946 shares during the period. Finally, American Century Companies Inc. grew its position in Nordic American Tankers by 40.5% in the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company's stock valued at $13,928,000 after acquiring an additional 1,009,096 shares during the period. Institutional investors own 44.29% of the company's stock.

Nordic American Tankers Company Profile

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.