Nordic American Tankers Limited (NYSE:NAT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Nordic American Tankers Limited (NYSE:NATGet Free Report) have earned an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.3333.

NAT has been the topic of several recent analyst reports. Wall Street Zen raised shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday. B Riley restated a “buy” rating on shares of Nordic American Tankers in a research note on Friday. Weiss Ratings lowered shares of Nordic American Tankers from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Finally, B. Riley Financial lifted their price objective on shares of Nordic American Tankers from $7.50 to $8.00 and gave the company a “buy” rating in a research note on Friday.

View Our Latest Stock Report on Nordic American Tankers

Institutional Trading of Nordic American Tankers

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in Nordic American Tankers in the 2nd quarter worth approximately $30,000. FNY Investment Advisers LLC acquired a new position in shares of Nordic American Tankers in the second quarter valued at $32,000. ROI Financial Advisors LLC bought a new stake in Nordic American Tankers in the fourth quarter valued at about $36,000. Parkside Financial Bank & Trust raised its holdings in shares of Nordic American Tankers by 2,800.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock worth $37,000 after buying an additional 10,500 shares in the last quarter. Finally, Stokes Family Office LLC acquired a new stake in shares of Nordic American Tankers in the 4th quarter valued at $37,000. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Trading Up 1.3%

Shares of NYSE:NAT traded up $0.09 during trading on Tuesday, reaching $6.92. 3,790,069 shares of the stock were exchanged, compared to its average volume of 4,126,905. 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 has a 12-month low of $3.04 and a 12-month high of $7.20. The firm’s 50-day moving average price is $6.36 and its 200 day moving average price is $5.80. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 11.73 and a beta of -0.57.

Nordic American Tankers (NYSE:NATGet Free Report) last posted 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 business had revenue of $79.30 million during 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%. On average, sell-side analysts anticipate that Nordic American Tankers will post 0.6 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 15.6%. The ex-dividend date is Thursday, September 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.22. Nordic American Tankers’s payout ratio is presently 149.15%.

Nordic American Tankers Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nordic American Tankers (NYSE:NAT)

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