Nordic American Tankers Limited (NAT) Receives $5.90 Consensus PT from Analysts

Shares of Nordic American Tankers Limited (NYSE:NAT) have been given an average rating of “Hold” by the ten ratings firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.90.

Several research firms recently weighed in on NAT. BidaskClub lowered shares of Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 10th. TheStreet lowered shares of Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a research note on Thursday, August 10th. Jefferies Group LLC reissued a “sell” rating and set a $5.00 price objective on shares of Nordic American Tankers Limited in a research note on Monday, July 17th. Finally, Maxim Group set a $4.00 price objective on shares of Nordic American Tankers Limited and gave the stock a “sell” rating in a research note on Monday, August 7th.

Hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in Nordic American Tankers Limited by 86.8% during the 1st quarter. Wells Fargo & Company MN now owns 408,783 shares of the shipping company’s stock worth $3,344,000 after buying an additional 189,905 shares during the period. Nationwide Fund Advisors raised its holdings in Nordic American Tankers Limited by 0.8% during the 1st quarter. Nationwide Fund Advisors now owns 58,327 shares of the shipping company’s stock worth $477,000 after buying an additional 469 shares during the period. IFP Advisors Inc raised its holdings in Nordic American Tankers Limited by 30.7% during the 2nd quarter. IFP Advisors Inc now owns 30,431 shares of the shipping company’s stock worth $193,000 after buying an additional 7,145 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in Nordic American Tankers Limited during the 1st quarter worth approximately $106,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in Nordic American Tankers Limited by 4.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 296,711 shares of the shipping company’s stock worth $2,428,000 after buying an additional 13,350 shares during the period. Hedge funds and other institutional investors own 23.18% of the company’s stock.

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Nordic American Tankers Limited (NYSE NAT) traded up 0.95% during mid-day trading on Thursday, hitting $5.32. 668,279 shares of the company were exchanged. Nordic American Tankers Limited has a 12-month low of $4.41 and a 12-month high of $9.88. The stock’s market cap is $542.48 million. The company has a 50 day moving average of $5.25 and a 200 day moving average of $6.23.

Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing the 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 firm had revenue of $39.10 million for the quarter, compared to the consensus estimate of $42.47 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was down 29.2% compared to the same quarter last year. On average, equities research analysts expect that Nordic American Tankers Limited will post ($0.40) earnings per share for the current fiscal year.

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.

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

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