According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
A number of other equities analysts have also recently issued reports on NAT. Vetr upgraded shares of Nordic American Tankers from a buy rating to a strong-buy rating and set a $15.80 price target on the stock in a research note on Wednesday, July 13th. Jefferies Group reiterated a sell rating on shares of Nordic American Tankers in a research note on Tuesday, September 6th. Morgan Stanley reiterated an equal weight rating and issued a $9.00 price target (down previously from $12.00) on shares of Nordic American Tankers in a research note on Friday, August 26th. Finally, ABN Amro cut shares of Nordic American Tankers from a buy rating to a sell rating in a research note on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company’s stock. Nordic American Tankers has an average rating of Hold and an average target price of $13.16.
Nordic American Tankers (NYSE:NAT) traded up 0.755% during trading on Thursday, hitting $10.015. 344,829 shares of the stock were exchanged. Nordic American Tankers has a 1-year low of $9.85 and a 1-year high of $17.02. The firm has a market capitalization of $894.53 million, a price-to-earnings ratio of 9.105 and a beta of 1.21. The company has a 50-day moving average price of $10.66 and a 200 day moving average price of $13.32.
Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same period in the previous year, the business posted $0.35 EPS. Equities analysts predict that Nordic American Tankers will post $0.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.06%. The ex-dividend date was Monday, August 15th. Nordic American Tankers’s dividend payout ratio (DPR) is 90.09%.
A number of institutional investors have recently modified their holdings of NAT. Norges Bank acquired a new position in shares of Nordic American Tankers during the fourth quarter worth $11,307,000. Panagora Asset Management Inc. acquired a new position in shares of Nordic American Tankers during the second quarter worth $8,887,000. Bank of New York Mellon Corp raised its position in shares of Nordic American Tankers by 90.9% in the second quarter. Bank of New York Mellon Corp now owns 1,158,340 shares of the company’s stock worth $16,090,000 after buying an additional 551,470 shares during the period. Allianz Asset Management AG raised its position in shares of Nordic American Tankers by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock worth $17,002,000 after buying an additional 252,467 shares during the period. Finally, Cipher Capital LP raised its position in shares of Nordic American Tankers by 126.5% in the second quarter. Cipher Capital LP now owns 380,390 shares of the company’s stock worth $5,284,000 after buying an additional 212,444 shares during the period. 32.97% of the stock is owned by institutional investors and hedge funds.
About Nordic American Tankers
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.
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