Evercore ISI cut shares of Nordic American Tankers Limited (NYSE:NAT) from an in-line rating to an underperform rating in a report issued on Friday, July 21st, Marketbeat.com reports. The brokerage currently has $5.00 target price on the shipping company’s stock, down from their prior target price of $6.00.
NAT has been the topic of several other research reports. Vetr upgraded shares of Nordic American Tankers Limited from a hold rating to a buy rating and set a $7.08 target price 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 research note on Tuesday, June 27th. Jefferies Group LLC reiterated a sell rating and set a $5.00 price target (down previously from $7.00) on shares of Nordic American Tankers Limited in a research note on Monday, May 8th. Finally, Maxim Group dropped their price target on shares of Nordic American Tankers Limited from $6.00 to $5.00 and set a sell rating on the stock in a research note on Monday, May 15th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $6.93.
Shares of Nordic American Tankers Limited (NAT) opened at 5.61 on Friday. The company’s market cap is $572.05 million. The firm has a 50-day moving average price of $6.10 and a 200 day moving average price of $7.40. Nordic American Tankers Limited has a 1-year low of $5.47 and a 1-year high of $12.52.
Nordic American Tankers Limited (NYSE:NAT) last announced its earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.03. The business had revenue of $39.10 million for the quarter, compared to the consensus estimate of $42.47 million. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. Nordic American Tankers Limited’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. On average, analysts predict that Nordic American Tankers Limited will post ($0.35) EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.60 annualized dividend and a yield of 10.70%. Nordic American Tankers Limited’s dividend payout ratio (DPR) is 4,000.00%.
A number of large investors have recently added to or reduced their stakes in NAT. BlueCrest Capital Management Ltd bought a new stake in Nordic American Tankers Limited during the first quarter valued at about $106,000. Northstar Wealth Partners LLC acquired a new stake in shares of Nordic American Tankers Limited during the first quarter valued at $110,000. Karp Capital Management Corp purchased a new position in Nordic American Tankers Limited during the first quarter valued at approximately $118,000. Airain ltd purchased a new position in Nordic American Tankers Limited during the first quarter valued at approximately $126,000. Finally, Aperio Group LLC raised its position in Nordic American Tankers Limited by 55.2% in the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock valued at $142,000 after buying an additional 7,994 shares during the period. 27.02% of the stock is owned by institutional investors.
Nordic American Tankers Limited Company Profile
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.
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