Nordic American Tankers (NAT) came out with quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.04 per share a year ago.
Initiating coverage on Nordic American Tankers with a “Buy” rating, expecting 15-20% total returns over the next 12 to 15 months. NAT's strong financial flexibility and healthy credit metrics support its robust 12.9% dividend yield, making it an attractive investment despite recent stock declines. The company's high day rates and low operating costs ensure steady earnings, with industry trends indicating sustained demand and limited supply growth through 2026.
Suezmax tanker pure play Nordic American Tankers Limited reported Q2/2024 results ahead of consensus expectations and declared an unchanged quarterly cash dividend of $0.12 per common share. While results came in ahead of expectations, NAT's average daily time charter equivalent ("TCE") rate underperformed peers by a wide margin again. With charter rates under pressure in recent weeks, investors might have to prepare for a sequential dividend cut.
Nordic American Tankers (NAT) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.13 per share a year ago.
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Investors need to pay close attention to Nordic American Tankers (NAT) stock based on the movements in the options market lately.