Nordic American Tanker Ltd (NYSE:NAT) has received an average recommendation of “Hold” from the eleven ratings firms that are covering the stock. Four investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.52.
NAT has been the topic of several analyst reports. Vetr downgraded shares of Nordic American Tanker from a “strong-buy” rating to a “buy” rating and set a $9.66 price target on the stock. in a report on Monday, January 9th. Zacks Investment Research downgraded shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a report on Wednesday, January 11th. Credit Suisse Group AG started coverage on shares of Nordic American Tanker in a report on Friday, January 13th. They set a “neutral” rating and a $9.00 price target on the stock. Jefferies Group LLC restated a “sell” rating and issued a $7.00 target price on shares of Nordic American Tanker in a research note on Friday, March 31st. Finally, Morgan Stanley dropped their target price on shares of Nordic American Tanker from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 7th.
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Nordic American Tanker (NYSE:NAT) last announced its earnings results on Monday, February 6th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.03. The business had revenue of $52.54 million for the quarter, compared to analysts’ expectations of $52.49 million. Nordic American Tanker had a net margin of 13.88% and a return on equity of 3.71%. The firm’s quarterly revenue was down 32.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. Analysts predict that Nordic American Tanker will post ($0.07) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Monday, May 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.80 dividend on an annualized basis and a yield of 9.57%. Nordic American Tanker’s payout ratio is 210.53%.
Large investors have recently bought and sold shares of the stock. Cetera Advisors LLC boosted its position in Nordic American Tanker by 15.2% in the third quarter. Cetera Advisors LLC now owns 21,250 shares of the shipping company’s stock worth $214,000 after buying an additional 2,800 shares in the last quarter. Moors & Cabot Inc. boosted its position in Nordic American Tanker by 14.2% in the third quarter. Moors & Cabot Inc. now owns 70,621 shares of the shipping company’s stock worth $716,000 after buying an additional 8,778 shares in the last quarter. Nuveen Fund Advisors LLC boosted its position in Nordic American Tanker by 14.1% in the third quarter. Nuveen Fund Advisors LLC now owns 62,935 shares of the shipping company’s stock worth $636,000 after buying an additional 7,795 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Nordic American Tanker during the third quarter worth about $130,000. Finally, Laurion Capital Management LP bought a new position in Nordic American Tanker during the third quarter worth about $30,330,000. 31.57% of the stock is owned by institutional investors.
Nordic American Tanker 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.
