Nordic American Tankers Ltd. (NAT) Receives Average Rating of “Hold” from Analysts
Nordic American Tankers Ltd. (NYSE:NAT) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.28.
Several research firms recently weighed in on NAT. Wells Fargo & Co. began coverage on Nordic American Tankers in a report on Wednesday. They issued a “market perform” rating for the company. Vetr upgraded Nordic American Tankers from a “buy” rating to a “strong-buy” rating and set a $10.11 target price for the company in a report on Monday, November 14th. Zacks Investment Research upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Saturday, November 12th. TheStreet lowered Nordic American Tankers from a “buy” rating to a “hold” rating in a report on Monday, October 24th. Finally, Clarkson Capital lowered Nordic American Tankers from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $10.00 in a report on Monday, October 3rd.
Nordic American Tankers (NYSE:NAT) opened at 9.06 on Tuesday. The company’s 50-day moving average price is $9.25 and its 200 day moving average price is $12.17. Nordic American Tankers has a 52 week low of $7.57 and a 52 week high of $16.18. The company has a market capitalization of $923.84 million, a PE ratio of 12.48 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) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. Nordic American Tankers had a return on equity of 7.34% and a net margin of 24.79%. During the same quarter last year, the business posted $0.29 earnings per share. On average, equities research analysts anticipate that Nordic American Tankers will post $0.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th were given a $0.26 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 11.48%. The ex-dividend date of this dividend was Tuesday, October 25th. Nordic American Tankers’s payout ratio is currently 140.54%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mission Wealth Management LLC purchased a new stake in Nordic American Tankers during the second quarter worth about $139,000. Paloma Partners Management Co purchased a new stake in Nordic American Tankers during the second quarter worth about $141,000. Stevens Capital Management LP purchased a new stake in Nordic American Tankers during the second quarter worth about $142,000. BB&T Securities LLC purchased a new stake in Nordic American Tankers during the second quarter worth about $144,000. Finally, MSI Financial Services Inc boosted its stake 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. 27.68% of the stock is currently owned by institutional investors.
Nordic American Tankers Company Profile
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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