Zacks Investment Research downgraded shares of Nordic American Tankers Limited (NYSE:NAT) from a hold rating to a sell rating in a research note released on Wednesday, July 12th.
According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
Several other research analysts also recently commented on NAT. Jefferies Group LLC reissued a sell rating and set a $7.00 price objective on shares of Nordic American Tankers Limited in a report on Friday, March 31st. Maxim Group restated a sell rating and set a $6.00 target price on shares of Nordic American Tankers Limited in a research report on Friday, April 21st. Finally, Vetr cut shares of Nordic American Tankers Limited from a strong-buy rating to a buy rating and set a $7.08 target price on the stock. in a research report on Monday, May 8th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $6.93.
Shares of Nordic American Tankers Limited (NAT) traded down 1.67% on Wednesday, hitting $5.29. The stock had a trading volume of 1,086,575 shares. The company’s market capitalization is $539.42 million. Nordic American Tankers Limited has a 52 week low of $5.25 and a 52 week high of $12.07. The company has a 50-day moving average of $5.96 and a 200 day moving average of $7.18.
Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by $0.03. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The company had revenue of $39.10 million for the quarter, compared to the consensus estimate of $42.47 million. During the same period last year, the company earned $0.15 EPS. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. On average, equities research analysts predict that Nordic American Tankers Limited will post ($0.39) EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.34%. The ex-dividend date is Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio (DPR) is currently 2,000.00%.
A number of hedge funds have recently bought and sold shares of NAT. Principal Financial Group Inc. raised its stake in Nordic American Tankers Limited by 37.9% in the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after buying an additional 4,454 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Nordic American Tankers Limited by 7.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,502 shares of the shipping company’s stock worth $105,000 after buying an additional 919 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Nordic American Tankers Limited during the first quarter worth approximately $106,000. Northstar Wealth Partners LLC bought a new position in shares of Nordic American Tankers Limited during the first quarter worth approximately $110,000. Finally, Karp Capital Management Corp bought a new position in shares of Nordic American Tankers Limited during the first quarter worth approximately $118,000. 27.02% of the stock is currently owned by institutional investors.
Nordic American Tankers Limited 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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