Nordic American Tanker (NAT) Now Covered by Analysts at B. Riley

B. Riley initiated coverage on shares of Nordic American Tanker (NYSE:NAT) in a report released on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $4.25 price target on the shipping company’s stock.

A number of other analysts also recently issued reports on NAT. Zacks Investment Research upgraded shares of Nordic American Tanker from a sell rating to a hold rating and set a $3.00 price target for the company in a report on Tuesday, October 30th. Maxim Group reaffirmed a sell rating and set a $1.00 price objective on shares of Nordic American Tanker in a research report on Tuesday, August 14th. Morgan Stanley increased their price objective on shares of Nordic American Tanker from $2.25 to $2.50 and gave the stock a $2.37 rating in a research report on Wednesday, July 18th. ValuEngine raised shares of Nordic American Tanker from a sell rating to a hold rating in a research report on Friday, August 3rd. Finally, BTIG Research began coverage on shares of Nordic American Tanker in a research report on Thursday, September 27th. They set a neutral rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Nordic American Tanker has an average rating of Hold and a consensus price target of $2.68.

Shares of NYSE NAT traded up $0.12 during midday trading on Friday, reaching $3.38. 1,811,338 shares of the stock were exchanged, compared to its average volume of 1,624,134. The company has a market capitalization of $482.70 million, a P/E ratio of -4.76 and a beta of -0.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.91 and a quick ratio of 2.53. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $4.38.

Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings results on Tuesday, August 14th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.02). The firm had revenue of $27.01 million for the quarter, compared to analyst estimates of $28.57 million. Nordic American Tanker had a negative return on equity of 13.97% and a negative net margin of 87.25%. As a group, research analysts expect that Nordic American Tanker will post -0.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.83%. This is a boost from Nordic American Tanker’s previous quarterly dividend of $0.02. Nordic American Tanker’s dividend payout ratio (DPR) is presently -11.27%.

Several large investors have recently bought and sold shares of NAT. Wells Fargo & Company MN boosted its position in shares of Nordic American Tanker by 74.8% during the 1st quarter. Wells Fargo & Company MN now owns 794,977 shares of the shipping company’s stock worth $1,542,000 after purchasing an additional 340,098 shares during the period. Northern Trust Corp boosted its position in shares of Nordic American Tanker by 8.1% during the 1st quarter. Northern Trust Corp now owns 1,171,451 shares of the shipping company’s stock worth $2,272,000 after purchasing an additional 87,470 shares during the period. BlackRock Inc. boosted its position in shares of Nordic American Tanker by 43.6% during the 1st quarter. BlackRock Inc. now owns 6,513,209 shares of the shipping company’s stock worth $12,635,000 after purchasing an additional 1,977,177 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Nordic American Tanker by 34.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 108,757 shares of the shipping company’s stock worth $211,000 after purchasing an additional 28,033 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Nordic American Tanker by 34.5% during the 1st quarter. California State Teachers Retirement System now owns 212,072 shares of the shipping company’s stock worth $411,000 after purchasing an additional 54,411 shares during the period. 24.84% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tanker Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

See Also: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Nordic American Tanker (NYSE:NAT)

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