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

Nordic American Tankers Limited (NYSE:NAT - Free Report) - Research analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for Nordic American Tankers in a note issued to investors on Wednesday, January 15th. B. Riley analyst L. Burke now expects 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.

A number of other research firms have also recently weighed in on NAT. StockNews.com raised shares of Nordic American Tankers from a "sell" rating to a "hold" rating in a research note on Monday, December 2nd. Jefferies Financial Group reiterated a "hold" rating and issued a $3.50 price objective on shares of Nordic American Tankers in a research note on Friday, November 29th.

Nordic American Tankers Stock Performance

Nordic American Tankers stock traded down $0.14 on Thursday, hitting $2.82. The company's stock had a trading volume of 4,214,828 shares, compared to its average volume of 3,479,443. The company has a fifty day moving average price of $2.76 and a 200-day moving average price of $3.32. The firm has a market cap of $587.77 million, a P/E ratio of 9.71 and a beta of -0.29. Nordic American Tankers has a one year low of $2.41 and a one year high of $4.55. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36.

Nordic American Tankers Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be issued a $0.04 dividend. This represents a $0.48 annualized dividend and a dividend yield of 17.05%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers's payout ratio is 55.17%.

Hedge Funds Weigh In On Nordic American Tankers

Several institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Nordic American Tankers during the second quarter worth approximately $25,000. American Century Companies Inc. increased its holdings 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in Nordic American Tankers by 5.7% during 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 in the last quarter. XTX Topco Ltd bought a new position in Nordic American Tankers in the 2nd quarter valued at $260,000. Finally, Sei Investments Co. boosted its stake in Nordic American Tankers by 9.1% in the second quarter. Sei Investments Co. now owns 91,791 shares of the shipping company's stock worth $365,000 after purchasing an additional 7,663 shares in the last quarter. 44.29% of the stock is owned by institutional investors.

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.