Today: The Nordic American Tankers Ltd. (nat) to Issue Quarterly Dividend of $0.26

The Nordic American Tankers Ltd. (nat) to Issue Quarterly Dividend of $0.26

Nordic American Tankers Ltd. (NYSE:nat) announced a quarterly dividend on Monday, October 17th. Shareholders of record on Thursday, October 27th will be paid a dividend of 0.26 per share on Thursday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 10.81%. The ex-dividend date is Tuesday, October 25th. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.25.

Shares of Nordic American Tankers (NYSE:NAT) opened at 9.62 on Tuesday. The firm has a market capitalization of $859.25 million, a P/E ratio of 8.75 and a beta of 1.05. The firm’s 50-day moving average price is $10.18 and its 200-day moving average price is $12.91. Nordic American Tankers has a one year low of $8.94 and a one year high of $16.68.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Nordic American Tankers will post $0.64 earnings per share for the current year.

A number of analysts have recently issued reports on NAT shares. Jefferies Group set a $8.00 price objective on shares of Nordic American Tankers and gave the stock an “underperform” rating in a report on Wednesday, July 27th. Zacks Investment Research downgraded shares of Nordic American Tankers from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 19th. Clarkson Capital downgraded shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $15.00 to $10.00 in a report on Monday, October 3rd. ABN Amro downgraded shares of Nordic American Tankers from a “buy” rating to a “sell” rating in a report on Thursday, June 30th. Finally, Vetr downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating and set a $14.14 price objective for the company. in a report on Thursday, June 23rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.63.

A number of hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. purchased a new position in shares of Nordic American Tankers during the second quarter valued at approximately $8,887,000. Allianz Asset Management AG increased its position in shares of Nordic American Tankers by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock valued at $17,002,000 after buying an additional 252,467 shares during the period. Cipher Capital LP increased its position in shares of Nordic American Tankers by 126.5% in the second quarter. Cipher Capital LP now owns 380,390 shares of the company’s stock valued at $5,284,000 after buying an additional 212,444 shares during the period. Vanguard Group Inc. increased its position in shares of Nordic American Tankers by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,314,203 shares of the company’s stock valued at $59,924,000 after buying an additional 149,318 shares during the period. Finally, State Street Corp increased its position in shares of Nordic American Tankers by 4.6% in the second quarter. State Street Corp now owns 1,435,967 shares of the company’s stock valued at $19,947,000 after buying an additional 62,919 shares during the period. 28.84% of the stock is owned by institutional investors and hedge funds.

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