Nordic American Tankers (NYSE:NAT) Research Coverage Started at StockNews.com

Posted by Carolyn Dwyer on Mar 19th, 2023

StockNews.com initiated coverage on shares of Nordic American Tankers (NYSE:NAT – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the shipping company’s stock.

NAT has been the topic of several other research reports. B. Riley raised their target price on shares of Nordic American Tankers from $5.00 to $5.50 and gave the company a buy rating in a report on Tuesday, February 28th. TheStreet raised shares of Nordic American Tankers from a d+ rating to a c rating in a report on Wednesday, November 30th. Finally, Jefferies Financial Group raised their target price on shares of Nordic American Tankers from $4.50 to $5.00 and gave the company a buy rating in a report on Monday, February 27th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $5.25.

Nordic American Tankers Trading Down 0.5 %

NYSE NAT opened at $3.68 on Thursday. The firm has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $3.30. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.61 and a current ratio of 1.96. Nordic American Tankers has a one year low of $1.74 and a one year high of $4.65. The firm has a market cap of $711.93 million, a price-to-earnings ratio of 61.33 and a beta of 0.14.

Nordic American Tankers (NYSE:NAT – Get Rating) last issued its earnings results on Monday, February 27th. The shipping company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). The firm had revenue of $71.10 million during the quarter, compared to analyst estimates of $83.48 million. Nordic American Tankers had a net margin of 8.95% and a return on equity of 2.96%. During the same period last year, the business earned ($0.12) EPS. Equities research analysts anticipate that Nordic American Tankers will post 0.55 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, March 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.60 dividend on an annualized basis and a yield of 16.30%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.05. Nordic American Tankers’s dividend payout ratio (DPR) is presently 1,000.00%.

Institutional Trading of Nordic American Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its holdings in Nordic American Tankers by 26.3% during the fourth quarter. Alliancebernstein L.P. now owns 200,655 shares of the shipping company’s stock worth $614,000 after purchasing an additional 41,800 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Nordic American Tankers during the fourth quarter worth approximately $93,000. State of Wyoming acquired a new stake in Nordic American Tankers during the fourth quarter worth approximately $195,000. Apollon Wealth Management LLC acquired a new stake in Nordic American Tankers during the fourth quarter worth approximately $79,000. Finally, SeaCrest Wealth Management LLC raised its holdings in Nordic American Tankers by 24.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 308,250 shares of the shipping company’s stock worth $943,000 after purchasing an additional 59,750 shares in the last quarter. Institutional investors and hedge funds own 40.41% of the company’s stock.

About Nordic American Tankers

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Nordic American Tankers Ltd. operates as an international tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.