Nordic American Tanker (NYSE:NAT) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Nordic American Tanker (NYSE:NAT) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “

A number of other brokerages have also recently commented on NAT. B. Riley set a $5.00 target price on Nordic American Tanker and gave the company a buy rating in a report on Friday, August 16th. ValuEngine lowered Nordic American Tanker from a hold rating to a sell rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Nordic American Tanker currently has an average rating of Hold and an average price target of $2.81.

Shares of Nordic American Tanker stock opened at $2.01 on Wednesday. The business has a 50-day moving average of $1.88 and a 200 day moving average of $2.08. Nordic American Tanker has a 12 month low of $1.66 and a 12 month high of $3.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.98 and a current ratio of 2.54.

Nordic American Tanker (NYSE:NAT) last announced its earnings results on Friday, August 16th. The shipping company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Nordic American Tanker had a negative return on equity of 6.26% and a negative net margin of 38.10%. The company had revenue of $30.65 million during the quarter, compared to analysts’ expectations of $33.65 million. Research analysts predict that Nordic American Tanker will post -0.18 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, August 29th. Nordic American Tanker’s dividend payout ratio is currently -6.56%.

A number of hedge funds have recently bought and sold shares of NAT. Paloma Partners Management Co acquired a new stake in Nordic American Tanker in the 2nd quarter valued at about $25,000. Man Group plc acquired a new stake in Nordic American Tanker in the 2nd quarter valued at about $25,000. Chicago Equity Partners LLC acquired a new stake in Nordic American Tanker in the 2nd quarter valued at about $26,000. GWM Advisors LLC acquired a new stake in Nordic American Tanker in the 2nd quarter valued at about $28,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nordic American Tanker in the 2nd quarter valued at about $56,000. 24.58% of the stock is currently owned by 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.

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