Brokerages Set Nordic American Tankers Limited (NYSE:NAT) Target Price at $5.33

Nordic American Tankers Limited (NYSE:NAT) has earned an average recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.3333.

NAT has been the subject of several research reports. B. Riley Financial increased their price objective on Nordic American Tankers from $7.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Wall Street Zen raised shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. B Riley reiterated a “buy” rating on shares of Nordic American Tankers in a research note on Friday, August 28th. Finally, Weiss Ratings downgraded shares of Nordic American Tankers from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 28th.

Institutional Investors Weigh In On Nordic American Tankers

Hedge funds have recently made changes to their positions in the stock. Amundi acquired a new stake in Nordic American Tankers during the second quarter worth about $253,000. California State Teachers Retirement System raised its holdings in Nordic American Tankers by 41.6% in the 2nd quarter. California State Teachers Retirement System now owns 15,723 shares of the shipping company’s stock valued at $87,000 after acquiring an additional 4,623 shares in the last quarter. SMART Wealth LLC bought a new stake in shares of Nordic American Tankers in the 2nd quarter worth approximately $62,000. AXQ Capital LP lifted its position in Nordic American Tankers by 16.4% in the second quarter. AXQ Capital LP now owns 51,174 shares of the shipping company’s stock worth $284,000 after purchasing an additional 7,198 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Nordic American Tankers during the 2nd quarter worth about $69,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Price Performance

NYSE NAT opened at $7.25 on Tuesday. The stock has a 50-day simple moving average of $6.46 and a 200 day simple moving average of $5.89. Nordic American Tankers has a twelve month low of $3.06 and a twelve month high of $7.35. The stock has a market capitalization of $1.54 billion, a PE ratio of 12.29 and a beta of -0.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.05 and a current ratio of 3.27.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $79.30 million for the quarter, compared to analyst estimates of $84.18 million. Nordic American Tankers had a return on equity of 20.58% and a net margin of 47.04%. Research analysts anticipate that Nordic American Tankers will post 0.6 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.27 per share. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date of this dividend is Thursday, September 10th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 149.15%.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.