Nordic American Tankers Ltd. (NAT) Downgraded by Zacks Investment Research to Sell
According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
Several other analysts also recently commented on NAT. Vetr upgraded shares of Nordic American Tankers from a buy rating to a strong-buy rating and set a $15.80 target price for the company in a report on Wednesday, July 13th. Jefferies Group restated a sell rating on shares of Nordic American Tankers in a report on Tuesday, September 6th. Morgan Stanley restated an equal weight rating and set a $9.00 price objective (down previously from $12.00) on shares of Nordic American Tankers in a report on Friday, August 26th. Finally, ABN Amro downgraded shares of Nordic American Tankers from a buy rating to a sell rating in a report on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $13.16.
Shares of Nordic American Tankers (NYSE:NAT) traded up 0.755% during trading on Thursday, hitting $10.015. 344,829 shares of the stock traded hands. Nordic American Tankers has a 1-year low of $9.85 and a 1-year high of $17.02. The company has a market cap of $894.53 million, a P/E ratio of 9.105 and a beta of 1.21. The stock has a 50-day moving average of $10.66 and a 200 day moving average of $13.32.
Nordic American Tankers (NYSE:NAT) last announced its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 period in the prior year, the company earned $0.35 earnings per share. On average, equities research analysts predict that Nordic American Tankers will post $0.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a $0.25 dividend. The ex-dividend date was Monday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.06%. Nordic American Tankers’s dividend payout ratio (DPR) is currently 90.09%.
Several institutional investors have recently added to or reduced their stakes in NAT. IFP Advisors Inc raised its position in Nordic American Tankers by 95.5% in the first quarter. IFP Advisors Inc now owns 7,094 shares of the company’s stock worth $100,000 after buying an additional 3,465 shares during the period. Mission Wealth Management LLC purchased a new position in Nordic American Tankers during the second quarter worth approximately $139,000. Paloma Partners Management Co purchased a new position in Nordic American Tankers during the second quarter worth approximately $141,000. Stevens Capital Management LP purchased a new position in Nordic American Tankers during the second quarter worth approximately $142,000. Finally, BB&T Securities LLC purchased a new position in Nordic American Tankers during the second quarter worth approximately $144,000. Institutional investors own 32.97% of the company’s stock.
About Nordic American Tankers
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.
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