Nordic American Tankers (NYSE:NAT) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Nordic American Tankers (NYSE:NAT) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.

Separately, Evercore cut Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target for the company. in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Trading Down 0.1%

NYSE NAT opened at $6.45 on Friday. The stock has a market capitalization of $1.36 billion, a P/E ratio of 23.87 and a beta of -0.57. Nordic American Tankers has a 52-week low of $2.70 and a 52-week high of $6.70. The firm has a 50-day moving average price of $5.74 and a 200 day moving average price of $5.33. The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $77.51 million during the quarter, compared to the consensus estimate of $81.86 million. Equities research analysts expect that Nordic American Tankers will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were issued a $0.22 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.7%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. Nordic American Tankers’s payout ratio is 325.93%.

Institutional Trading of Nordic American Tankers

Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in Nordic American Tankers during the second quarter worth about $32,000. Torren Management LLC acquired a new stake in shares of Nordic American Tankers during the 4th quarter valued at approximately $34,000. ROI Financial Advisors LLC acquired a new stake in shares of Nordic American Tankers during the 4th quarter valued at approximately $36,000. Parkside Financial Bank & Trust boosted its stake in shares of Nordic American Tankers by 2,800.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock worth $37,000 after acquiring an additional 10,500 shares in the last quarter. Finally, Stokes Family Office LLC purchased a new stake in shares of Nordic American Tankers during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.