Nordic American Tankers (NYSE:NAT) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Nordic American Tankers (NYSE:NAT – Get Rating) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other analysts also recently issued reports on NAT. Jefferies Financial Group boosted their target price on shares of Nordic American Tankers from $4.50 to $5.00 and gave the company a buy rating in a research note on Monday, February 27th. TheStreet upgraded shares of Nordic American Tankers from a c+ rating to a b rating in a report on Monday. Finally, B. Riley boosted their price target on shares of Nordic American Tankers from $5.00 to $5.50 and gave the company a buy rating in a report on Tuesday, February 28th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordic American Tankers has a consensus rating of Moderate Buy and an average price target of $5.25.

Nordic American Tankers Price Performance

Shares of NYSE:NAT opened at $3.83 on Tuesday. The company’s fifty day moving average is $3.67 and its two-hundred day moving average is $3.52. The company has a quick ratio of 1.62, a current ratio of 1.97 and a debt-to-equity ratio of 0.49. Nordic American Tankers has a 12-month low of $1.80 and a 12-month high of $4.65. The company has a market cap of $799.69 million, a P/E ratio of 63.83 and a beta of 0.09.

Nordic American Tankers (NYSE:NAT – Get Rating) last announced its earnings results on Monday, May 22nd. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Nordic American Tankers had a net margin of 8.95% and a return on equity of 2.96%. The company had revenue of $87.09 million for the quarter, compared to the consensus estimate of $79.55 million. During the same period in the previous year, the business earned ($0.14) EPS. Equities analysts expect that Nordic American Tankers will post 0.57 earnings per share for the current fiscal year.

Nordic American Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 15.67%. The ex-dividend date is Wednesday, June 14th. Nordic American Tankers’s dividend payout ratio is presently 1,000.00%.

Institutional Investors Weigh In On Nordic American Tankers

Large investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC bought a new stake in Nordic American Tankers in the first quarter worth $25,000. Arete Wealth Advisors LLC bought a new stake in Nordic American Tankers in the third quarter worth $27,000. American National Bank bought a new stake in Nordic American Tankers in the first quarter worth $28,000. Quantbot Technologies LP bought a new stake in Nordic American Tankers in the second quarter worth $30,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Nordic American Tankers during the 3rd quarter worth $31,000. 40.41% of the stock is currently owned by institutional investors.

Nordic American Tankers Company Profile

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Nordic American Tankers Ltd. operates as an international tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.