Nordic American Tankers Shares Fall After Q3 Earnings, Net Revenue Miss Estimates

MT Newswires Live11-30

Nordic American Tankers (NAT) shares were down more than 7% in recent Friday trading after the company reported Q3 financial results that missed analyst estimates.

The company reported Q3 earnings Friday of $0.04 per diluted share, unchanged from a year earlier.

Four analysts polled by FactSet expected $0.06.

Net voyage revenue for the quarter ended Sept. 30 was $52 million, up from $48 million a year earlier.

Two analysts surveyed by FactSet expected $57.6 million.

The company lowered its quarterly dividend to $0.04 per share, payable on Jan. 16 to shareholders of record as of Dec. 17.

Price: 2.68, Change: -0.21, Percent Change: -7.12

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