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 research analysts have also weighed in on NAT. Vetr raised shares of Nordic American Tankers from a sell rating to a hold rating and set a $14.14 target price on the stock in a report on Wednesday, June 15th. ABN Amro lowered shares of Nordic American Tankers from a buy rating to a sell rating in a report on Thursday, June 30th. Jefferies Group set a $8.00 target price on shares of Nordic American Tankers and gave the stock an underperform rating in a report on Wednesday, July 27th. Morgan Stanley reissued an equal weight rating and set a $9.00 target price (down from $12.00) on shares of Nordic American Tankers in a report on Friday, August 26th. Finally, Clarkson Capital lowered shares of Nordic American Tankers from a buy rating to a neutral rating and reduced their target price for the stock from $15.00 to $10.00 in a report on Monday, October 3rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $12.63.
Shares of Nordic American Tankers (NYSE:NAT) opened at 8.99 on Tuesday. The firm has a market capitalization of $802.98 million, a price-to-earnings ratio of 8.17 and a beta of 1.05. The company’s 50 day moving average is $10.19 and its 200-day moving average is $12.96. Nordic American Tankers has a one year low of $8.94 and a one year high of $16.68.
Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data 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 quarter in the previous year, the business posted $0.35 earnings per share. Equities analysts expect that Nordic American Tankers will post $0.64 EPS for the current year.
Several large investors have recently bought and sold shares of NAT. Arlington Capital Management Inc. raised its stake in Nordic American Tankers by 44.1% in the second quarter. Arlington Capital Management Inc. now owns 145,272 shares of the company’s stock worth $2,018,000 after buying an additional 44,453 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 in the last quarter. Capital Fund Management S.A. raised its stake in Nordic American Tankers by 56.8% in the second quarter. Capital Fund Management S.A. now owns 88,282 shares of the company’s stock worth $1,226,000 after buying an additional 31,990 shares in the last quarter. Bank of Montreal Can purchased a new stake in Nordic American Tankers during the second quarter worth approximately $724,000. Finally, Murphy Capital Management Inc. raised its stake in Nordic American Tankers by 9.2% in the second quarter. Murphy Capital Management Inc. now owns 15,400 shares of the company’s stock worth $213,000 after buying an additional 1,300 shares in the last quarter. 28.84% of the stock is currently owned by institutional investors.
Nordic American Tankers Company Profile
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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