Nordic American Tankers Ltd. (NAT) Stock Rating Upgraded by Zacks Investment Research
Nordic American Tankers Ltd. (NYSE:NAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
Other analysts have also recently issued research reports about the stock. Jefferies Group restated a “sell” rating on shares of Nordic American Tankers in a research note on Tuesday, September 6th. Clarkson Capital cut shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $10.00 in a research note on Monday, October 3rd. TheStreet cut shares of Nordic American Tankers from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $9.00 target price (down previously from $12.00) on shares of Nordic American Tankers in a research note on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.63.
Nordic American Tankers (NYSE:NAT) opened at 8.94 on Friday. Nordic American Tankers has a 52-week low of $7.57 and a 52-week high of $16.18. The firm has a 50-day moving average of $9.25 and a 200-day moving average of $12.17. The firm has a market capitalization of $798.51 million, a price-to-earnings ratio of 8.13 and a beta of 1.29.
Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same period in the previous year, the company earned $0.29 earnings per share. On average, equities research analysts forecast that Nordic American Tankers will post $0.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 11.63%. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, October 25th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 93.69%.
Institutional investors have recently added to or reduced their stakes in the company. MSI Financial Services Inc raised its position in Nordic American Tankers by 1.3% in the third quarter. MSI Financial Services Inc now owns 10,530 shares of the company’s stock worth $106,000 after buying an additional 134 shares in the last quarter. Principal Financial Group Inc. raised its position in Nordic American Tankers by 1.8% in the third quarter. Principal Financial Group Inc. now owns 11,814 shares of the company’s stock valued at $119,000 after buying an additional 211 shares in the last quarter. Mission Wealth Management LLC purchased a new position in Nordic American Tankers during the second quarter valued at approximately $139,000. Paloma Partners Management Co purchased a new position in Nordic American Tankers during the second quarter valued at approximately $141,000. Finally, Stevens Capital Management LP purchased a new position in Nordic American Tankers during the second quarter valued at approximately $142,000. 28.86% of the stock is currently owned by institutional investors and hedge funds.
About Nordic American Tankers
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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