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 report released on Tuesday.

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

Nordic American Tankers Stock Down 4.5 %

Shares of NAT opened at $3.83 on Tuesday. The company has a 50-day simple moving average of $3.67 and a 200-day simple moving average of $3.52. The firm has a market capitalization of $799.69 million, a P/E ratio of 63.83 and a beta of 0.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.62 and a current ratio of 1.97. Nordic American Tankers has a 52 week low of $1.80 and a 52 week high of $4.65.

Nordic American Tankers (NYSE:NAT – Get Rating) last announced its quarterly earnings data on Monday, May 22nd. The shipping company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $87.09 million during the quarter, compared to analyst estimates of $79.55 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. On average, equities research analysts expect that Nordic American Tankers will post 0.57 earnings per share for the current year.

Nordic American Tankers Dividend Announcement

The business also recently declared 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 dividend yield of 15.67%. The ex-dividend date is Wednesday, June 14th. Nordic American Tankers’s dividend payout ratio is currently 1,000.00%.

Institutional Trading of Nordic American Tankers

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Nordic American Tankers by 29.1% during the 1st quarter. FMR LLC now owns 13,308 shares of the shipping company’s stock worth $53,000 after acquiring an additional 2,999 shares during the period. Squarepoint Ops LLC grew its holdings in Nordic American Tankers by 11.5% during the 4th quarter. Squarepoint Ops LLC now owns 33,010 shares of the shipping company’s stock worth $101,000 after acquiring an additional 3,392 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Nordic American Tankers by 11.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,993 shares of the shipping company’s stock worth $110,000 after acquiring an additional 3,679 shares during the period. Advisor Group Holdings Inc. grew its holdings in Nordic American Tankers by 3.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 142,905 shares of the shipping company’s stock worth $437,000 after acquiring an additional 4,549 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Nordic American Tankers by 20.8% during the 4th quarter. ProShare Advisors LLC now owns 26,415 shares of the shipping company’s stock worth $81,000 after acquiring an additional 4,557 shares during the period. Institutional investors and hedge funds own 40.41% of the company’s stock.

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.