Other research analysts have also recently issued research reports about the stock. Vetr cut shares of Nordic American Tankers Limited from a strong-buy rating to a buy rating and set a $6.89 target price for the company. in a research report on Thursday, June 1st. Jefferies Group LLC restated a sell rating and issued a $5.00 target price (down previously from $7.00) on shares of Nordic American Tankers Limited in a research report on Monday, May 8th. Maxim Group decreased their target price on shares of Nordic American Tankers Limited from $6.00 to $5.00 and set a sell rating for the company in a research report on Monday, May 8th. Finally, Zacks Investment Research lowered shares of Nordic American Tankers Limited from a hold rating to a sell rating in a research note on Wednesday, April 26th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. Nordic American Tankers Limited presently has an average rating of Hold and a consensus target price of $6.93.
Shares of Nordic American Tankers Limited (NYSE:NAT) opened at 5.29 on Thursday. The firm’s market cap is $539.42 million. Nordic American Tankers Limited has a 12 month low of $5.25 and a 12 month high of $12.07. The company has a 50-day moving average of $5.96 and a 200-day moving average of $7.18.
Nordic American Tankers Limited (NYSE:NAT) last posted its earnings results on Monday, August 7th. The shipping company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by $0.03. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The firm had revenue of $39.10 million during the quarter, compared to the consensus estimate of $42.47 million. During the same quarter last year, the company posted $0.15 EPS. Nordic American Tankers Limited’s revenue for the quarter was down 29.2% on a year-over-year basis. Equities analysts forecast that Nordic American Tankers Limited will post ($0.39) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 11.34%. The ex-dividend date of this dividend is Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio is presently 2,000.00%.
A number of hedge funds have recently added to or reduced their stakes in NAT. BlueCrest Capital Management Ltd acquired a new stake in Nordic American Tankers Limited during the first quarter valued at approximately $106,000. Northstar Wealth Partners LLC purchased a new stake in shares of Nordic American Tankers Limited during the first quarter valued at approximately $110,000. Karp Capital Management Corp purchased a new stake in shares of Nordic American Tankers Limited during the first quarter valued at approximately $118,000. Airain ltd purchased a new stake in shares of Nordic American Tankers Limited during the first quarter valued at approximately $126,000. Finally, Principal Financial Group Inc. increased its stake in shares of Nordic American Tankers Limited by 37.9% in the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares during the period. 27.02% of the stock is owned by institutional investors and hedge funds.
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.
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