Jefferies Group LLC reiterated their sell rating on shares of Nordic American Tanker Ltd (NYSE:NAT) in a report published on Monday, May 8th. They currently have a $5.00 price target on the shipping company’s stock, down from their previous price target of $7.00.
Several other equities analysts also recently weighed in on NAT. Vetr downgraded shares of Nordic American Tanker from a strong-buy rating to a buy rating and set a $9.66 price target on the stock. in a report on Monday, January 9th. Zacks Investment Research downgraded shares of Nordic American Tanker from a hold rating to a sell rating in a report on Wednesday, January 11th. Credit Suisse Group AG initiated coverage on Nordic American Tanker in a research report on Friday, January 13th. They issued a neutral rating and a $9.00 price objective on the stock. Morgan Stanley lowered their price objective on Nordic American Tanker from $9.00 to $8.50 and set an equal weight rating on the stock in a research report on Tuesday, February 7th. Finally, Maxim Group restated a sell rating and issued a $6.00 price objective on shares of Nordic American Tanker in a research report on Friday, April 21st. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $7.43.
Nordic American Tanker (NYSE:NAT) traded down 0.28% during mid-day trading on Monday, hitting $7.03. 788,455 shares of the stock traded hands. The company’s 50 day moving average price is $7.87 and its 200-day moving average price is $8.34. Nordic American Tanker has a 1-year low of $6.51 and a 1-year high of $16.07. The stock’s market cap is $716.84 million.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings results on Monday, May 8th. The shipping company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Nordic American Tanker had a return on equity of 3.71% and a net margin of 13.88%. The business had revenue of $55.20 million during the quarter, compared to analyst estimates of $55.53 million. During the same quarter last year, the company posted $0.33 EPS. Nordic American Tanker’s quarterly revenue was down 28.0% compared to the same quarter last year. Analysts predict that Nordic American Tanker will post ($0.17) earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Monday, May 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.80 dividend on an annualized basis and a yield of 11.35%. Nordic American Tanker’s payout ratio is 210.53%.
A number of hedge funds have recently bought and sold shares of NAT. Raymond James Financial Services Advisors Inc. increased its stake in shares of Nordic American Tanker by 7.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,502 shares of the shipping company’s stock valued at $105,000 after buying an additional 919 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Nordic American Tanker during the first quarter valued at about $106,000. Northstar Wealth Partners LLC bought a new stake in shares of Nordic American Tanker during the first quarter valued at about $110,000. Karp Capital Management Corp acquired a new position in Nordic American Tanker during the first quarter valued at approximately $118,000. Finally, Airain ltd purchased a new stake in shares of Nordic American Tanker during the first quarter valued at approximately $126,000. Institutional investors own 31.57% of the company’s stock.
Nordic American Tanker 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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