Wall Street Zen upgraded shares of Nordic American Tankers (NYSE:NAT – Free Report) from a buy rating to a strong-buy rating in a report published on Saturday morning,Wall Street Zen reports.
Separately, B. Riley Financial lifted their price target on Nordic American Tankers from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.33.
Check Out Our Latest Analysis on NAT
Nordic American Tankers Stock Up 1.3%
Nordic American Tankers (NYSE:NAT – Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The shipping company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. Nordic American Tankers had a return on equity of 20.58% and a net margin of 47.04%.The company had revenue of $79.30 million during the quarter, compared to analyst estimates of $84.18 million. As a group, sell-side analysts anticipate that Nordic American Tankers will post 0.6 earnings per share for the current year.
Nordic American Tankers Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.08 dividend on an annualized basis and a yield of 15.7%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.22. Nordic American Tankers’s dividend payout ratio (DPR) is 149.15%.
Hedge Funds Weigh In On Nordic American Tankers
A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Nordic American Tankers during the 2nd quarter worth $30,000. FNY Investment Advisers LLC bought a new stake in shares of Nordic American Tankers in the 2nd quarter worth approximately $32,000. Torren Management LLC bought a new position in Nordic American Tankers in the fourth quarter worth $34,000. ROI Financial Advisors LLC bought a new position in shares of Nordic American Tankers during the 4th quarter worth about $36,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Nordic American Tankers by 2,800.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 10,500 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.
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.
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