Nordic American Tankers Limited (NAT) Receives Average Rating of “Hold” from Analysts

Shares of Nordic American Tankers Limited (NYSE:NAT) have been assigned an average rating of “Hold” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.58.

A number of analysts have recently weighed in on NAT shares. Vetr upgraded shares of Nordic American Tankers Limited from a “hold” rating to a “buy” rating and set a $7.08 price target on the stock in a report on Wednesday, May 24th. Zacks Investment Research cut shares of Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 27th. Maxim Group set a $5.00 price target on shares of Nordic American Tankers Limited and gave the company a “sell” rating in a report on Saturday, July 22nd. BidaskClub cut shares of Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC restated a “sell” rating and issued a $5.00 price target on shares of Nordic American Tankers Limited in a report on Monday, July 17th.

ILLEGAL ACTIVITY NOTICE: “Nordic American Tankers Limited (NAT) Receives Average Rating of “Hold” from Analysts” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://ledgergazette.com/2017/09/17/nordic-american-tankers-limited-nat-receives-average-rating-of-hold-from-analysts.html.

Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new position in shares of Nordic American Tankers Limited in the 2nd quarter valued at approximately $479,000. State Street Corp raised its position in shares of Nordic American Tankers Limited by 6.9% in the 2nd quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after purchasing an additional 114,052 shares during the last quarter. Shelton Capital Management raised its position in shares of Nordic American Tankers Limited by 33.3% in the 2nd quarter. Shelton Capital Management now owns 200,000 shares of the shipping company’s stock valued at $1,268,000 after purchasing an additional 50,000 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Nordic American Tankers Limited by 14.0% in the 2nd quarter. Voya Investment Management LLC now owns 46,032 shares of the shipping company’s stock valued at $292,000 after purchasing an additional 5,659 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Nordic American Tankers Limited by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 411,778 shares of the shipping company’s stock valued at $2,611,000 after purchasing an additional 3,425 shares during the last quarter. 23.34% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Limited (NAT) opened at 5.25 on Friday. The stock’s market capitalization is $535.34 million. Nordic American Tankers Limited has a one year low of $4.41 and a one year high of $11.02. The firm has a 50-day moving average of $5.22 and a 200 day moving average of $6.60.

Nordic American Tankers Limited (NYSE:NAT) last issued its earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The business had revenue of $39.10 million for the quarter, compared to the consensus estimate of $42.47 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s revenue was down 29.2% on a year-over-year basis. On average, equities research analysts anticipate that Nordic American Tankers Limited will post ($0.39) earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.43%. The ex-dividend date was Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio is currently 2,000.00%.

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.

Analyst Recommendations for Nordic American Tankers Limited (NYSE:NAT)

Receive News & Ratings for Nordic American Tankers Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply