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

StockNews.com upgraded shares of Nordic American Tankers (NYSE:NATFree Report) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group decreased their target price on Nordic American Tankers from $5.50 to $5.00 and set a buy rating for the company in a research report on Wednesday. Evercore ISI cut their price target on shares of Nordic American Tankers from $5.00 to $4.50 and set an in-line rating on the stock in a research report on Thursday, February 29th. Finally, TheStreet cut Nordic American Tankers from a b- rating to a c+ rating in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $5.17.

View Our Latest Stock Analysis on Nordic American Tankers

Nordic American Tankers Trading Up 7.1 %

Shares of NYSE NAT opened at $4.14 on Thursday. Nordic American Tankers has a 1-year low of $3.44 and a 1-year high of $4.83. The company has a 50-day moving average of $4.01 and a two-hundred day moving average of $4.15. The company has a market cap of $863.39 million, a PE ratio of 8.80 and a beta of -0.09. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

Nordic American Tankers (NYSE:NATGet Free Report) last posted its quarterly earnings data on Friday, March 1st. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). The company had revenue of $59.25 million during the quarter, compared to the consensus estimate of $68.90 million. Nordic American Tankers had a return on equity of 18.12% and a net margin of 37.65%. During the same quarter last year, the firm earned $0.17 EPS. As a group, equities analysts expect that Nordic American Tankers will post 0.6 earnings per share for the current fiscal year.

Nordic American Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.48 annualized dividend and a yield of 11.61%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 102.13%.

Institutional Investors Weigh In On Nordic American Tankers

A number of large investors have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC acquired a new stake in Nordic American Tankers during the first quarter worth about $41,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of Nordic American Tankers during the 4th quarter worth approximately $43,000. B. Riley Wealth Advisors Inc. bought a new position in Nordic American Tankers in the first quarter valued at approximately $45,000. D.A. Davidson & CO. acquired a new position in Nordic American Tankers during the third quarter valued at approximately $47,000. Finally, Raymond James & Associates acquired a new stake in shares of Nordic American Tankers in the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

(Get Free Report)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.

Further Reading

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