Nordic American Tankers (NYSE:NAT) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Nordic American Tankers (NYSE:NAT) from a hold rating to a sell rating in a research report report published on Saturday.

Several other equities analysts also recently issued reports on NAT. Evercore ISI lifted their price target on shares of Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research note on Thursday, August 28th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.00.

Nordic American Tankers Price Performance

Shares of NAT stock opened at $3.81 on Friday. The stock’s fifty day simple moving average is $3.47 and its 200 day simple moving average is $3.05. Nordic American Tankers has a one year low of $2.13 and a one year high of $3.93. The firm has a market cap of $806.77 million, a price-to-earnings ratio of 54.43 and a beta of -0.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.33 and a quick ratio of 2.04.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. The company had revenue of $40.15 million for the quarter, compared to the consensus estimate of $53.35 million. On average, analysts expect that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, September 12th were given a $0.10 dividend. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, September 12th. This represents a $0.40 annualized dividend and a yield of 10.5%. Nordic American Tankers’s dividend payout ratio is presently 571.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlueStem Wealth Partners LLC bought a new stake in shares of Nordic American Tankers during the third quarter worth $32,000. HBK Sorce Advisory LLC bought a new position in Nordic American Tankers in the third quarter valued at about $33,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Nordic American Tankers in the third quarter worth about $32,000. Savant Capital LLC acquired a new position in Nordic American Tankers during the 2nd quarter valued at about $28,000. Finally, Fortis Capital Advisors LLC acquired a new position in Nordic American Tankers during the 3rd quarter valued at about $37,000. 44.29% of the stock is currently owned by institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.