Nordic American Tankers Limited (NAT) Reaches New 52-Week Low at $4.33

Shares of Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week low on Wednesday . The stock traded as low as $4.33 and last traded at $4.32, with a volume of 756,828 shares traded. The stock had previously closed at $4.44.

NAT has been the topic of several recent research reports. Zacks Investment Research downgraded Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Maxim Group set a $4.00 price target on Nordic American Tankers Limited and gave the stock a “sell” rating in a research note on Monday, August 7th. BidaskClub downgraded Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 price objective on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. Finally, Evercore ISI cut Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and lowered their price objective for the company from $6.00 to $5.00 in a research report on Friday, July 21st. Five analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Nordic American Tankers Limited presently has a consensus rating of “Hold” and a consensus target price of $6.25.

The firm’s 50-day moving average is $5.20 and its 200-day moving average is $5.95. The stock’s market cap is $447.79 million.

Nordic American Tankers Limited (NYSE:NAT) last announced its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The company had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $42.47 million. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. Nordic American Tankers Limited’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. Equities analysts predict that Nordic American Tankers Limited will post ($0.50) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, November 10th. Nordic American Tankers Limited’s dividend payout ratio (DPR) is presently 2,000.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp lifted its position in Nordic American Tankers Limited by 40.4% during the second quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock valued at $14,536,000 after purchasing an additional 659,827 shares during the period. State Street Corp lifted its position in Nordic American Tankers Limited by 6.9% during the second quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after purchasing an additional 114,052 shares during the period. Global X Management Co. LLC lifted its position in Nordic American Tankers Limited by 4.7% during the second quarter. Global X Management Co. LLC now owns 1,098,976 shares of the shipping company’s stock valued at $6,968,000 after purchasing an additional 49,761 shares during the period. WealthTrust Axiom LLC lifted its position in Nordic American Tankers Limited by 7.2% during the second quarter. WealthTrust Axiom LLC now owns 662,196 shares of the shipping company’s stock valued at $4,198,000 after purchasing an additional 44,443 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Nordic American Tankers Limited by 19.0% during the second quarter. Wells Fargo & Company MN now owns 486,605 shares of the shipping company’s stock valued at $3,085,000 after purchasing an additional 77,822 shares during the period. Institutional investors own 23.41% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States and international copyright and trademark law. The original version of this piece can be viewed at https://www.com-unik.info/2017/11/01/nordic-american-tankers-limited-nat-reaches-new-52-week-low-at-4-33.html.

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.

What are top analysts saying about Nordic American Tankers Limited? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Nordic American Tankers Limited and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit