Jefferies Financial Group Trims Nordic American Tankers (NYSE:NAT) Target Price to $3.50

Nordic American Tankers (NYSE:NAT) had its price objective cut by Jefferies Financial Group from $4.50 to $3.50 in a report issued on Friday morning, AnalystRatings.net reports. They currently have a hold rating on the shipping company’s stock.

A number of other research analysts have also recently commented on NAT. Zacks Investment Research raised Nordic American Tankers from a hold rating to a buy rating and set a $4.00 price target on the stock in a report on Tuesday, October 20th. TheStreet raised Nordic American Tankers from a c rating to a b- rating in a report on Wednesday, September 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $4.08.

NAT stock opened at $3.13 on Friday. Nordic American Tankers has a twelve month low of $2.30 and a twelve month high of $9.00. The company has a quick ratio of 1.70, a current ratio of 1.80 and a debt-to-equity ratio of 0.50. The stock has a market cap of $461.17 million, a P/E ratio of 5.31 and a beta of 0.55. The business’s 50-day moving average price is $3.61 and its 200-day moving average price is $4.34.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Monday, August 17th. The shipping company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. Nordic American Tankers had a return on equity of 14.59% and a net margin of 32.35%. The firm had revenue of $93.77 million for the quarter, compared to analysts’ expectations of $88.19 million. On average, equities research analysts expect that Nordic American Tankers will post 0.66 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of NAT. Nuveen Asset Management LLC raised its holdings in shares of Nordic American Tankers by 35.4% during the 1st quarter. Nuveen Asset Management LLC now owns 740,840 shares of the shipping company’s stock worth $3,356,000 after acquiring an additional 193,877 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Nordic American Tankers by 100.0% during the 1st quarter. Wells Fargo & Company MN now owns 194,895 shares of the shipping company’s stock worth $883,000 after acquiring an additional 97,436 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Nordic American Tankers by 98.6% during the 1st quarter. Two Sigma Advisers LP now owns 448,735 shares of the shipping company’s stock worth $2,033,000 after acquiring an additional 222,735 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Nordic American Tankers during the 1st quarter worth approximately $1,281,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Nordic American Tankers by 105.2% during the 1st quarter. Meeder Asset Management Inc. now owns 27,911 shares of the shipping company’s stock worth $127,000 after acquiring an additional 14,310 shares in the last quarter. 28.51% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 23 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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