Shares of Nordic American Tankers Limited (NYSE:NAT) have received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.58.
NAT has been the topic of a number of research analyst reports. Evercore ISI lowered Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and lowered their target price for the company from $6.00 to $5.00 in a report on Friday, July 21st. Zacks Investment Research lowered Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a report on Saturday, August 5th. Maxim Group set a $5.00 target price on Nordic American Tankers Limited and gave the company a “sell” rating in a report on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 target price on shares of Nordic American Tankers Limited in a report on Monday, July 17th. Finally, TheStreet lowered Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a report on Thursday, August 10th.
Shares of Nordic American Tankers Limited (NAT) remained flat at $5.37 during trading on Friday. 873,980 shares of the company traded hands. The firm’s 50-day moving average price is $5.18 and its 200 day moving average price is $6.55. Nordic American Tankers Limited has a 12-month low of $4.41 and a 12-month high of $11.02. The company’s market cap is $547.57 million.
Nordic American Tankers Limited (NYSE:NAT) last released its earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). The business had revenue of $39.10 million during the quarter, compared to analyst estimates of $42.47 million. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. On average, equities research analysts expect that Nordic American Tankers Limited will post ($0.39) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 11.17%. The ex-dividend date was Thursday, August 10th. Nordic American Tankers Limited’s payout ratio is presently 2,000.00%.
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Several large investors have recently made changes to their positions in NAT. Principal Financial Group Inc. grew its holdings in shares of Nordic American Tankers Limited by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after purchasing an additional 4,454 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Nordic American Tankers Limited during the 1st quarter worth approximately $106,000. Karp Capital Management Corp acquired a new stake in shares of Nordic American Tankers Limited during the 1st quarter worth approximately $118,000. Airain ltd acquired a new stake in shares of Nordic American Tankers Limited during the 1st quarter worth approximately $126,000. Finally, Aperio Group LLC grew its holdings in shares of Nordic American Tankers Limited by 55.2% during the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after purchasing an additional 7,994 shares in the last quarter. 23.18% of the stock is currently owned by institutional investors.
About Nordic American Tankers Limited
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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