Nordic American Offshore Ltd. (NAO) Releases Earnings Results, Misses Expectations By $0.02 EPS
Nordic American Offshore Ltd. (NYSE:NAO) released its quarterly earnings data on Monday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.02. Nordic American Offshore had a negative net margin of 86.40% and a negative return on equity of 7.79%. During the same period in the prior year, the firm earned ($0.13) EPS.
Shares of Nordic American Offshore (NYSE:NAO) opened at 2.75 on Tuesday. Nordic American Offshore has a 12 month low of $2.55 and a 12 month high of $5.82. The firm has a 50-day moving average price of $3.40 and a 200-day moving average price of $4.28. The company’s market capitalization is $62.01 million.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Wednesday, November 23rd will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Monday, November 21st. Nordic American Offshore’s dividend payout ratio (DPR) is -20.41%.
Separately, Zacks Investment Research upgraded Nordic American Offshore from a “strong sell” rating to a “buy” rating and set a $4.75 price objective on the stock in a research report on Thursday, July 28th.
A hedge fund recently bought a new stake in Nordic American Offshore stock. Paloma Partners Management Co purchased a new stake in Nordic American Offshore Ltd. (NYSE:NAO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 63,211 shares of the company’s stock, valued at approximately $298,000. Paloma Partners Management Co owned approximately 0.28% of Nordic American Offshore at the end of the most recent reporting period. 15.12% of the stock is owned by hedge funds and other institutional investors.
Nordic American Offshore Company Profile
Nordic American Offshore Limited (NAO) operates platform supply vessels (PSV). The Company owns approximately eight vessels. The Company operates in the offshore support vessel market segment. The Company has approximately two vessels under construction. The Company’s vessels operate in the North Sea in both the term and spot market.
Receive News & Stock Ratings for Nordic American Offshore Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Offshore Ltd. and related stocks with our FREE daily email newsletter.