Nordic American Tankers (NYSE:NAT) Upgraded by Wall Street Zen to Hold Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of Nordic American Tankers (NYSE:NAT – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also issued reports on NAT. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordic American Tankers in a research note on Wednesday, October 8th. Finally, Evercore ISI boosted their price target on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.25.

Read Our Latest Research Report on NAT

Nordic American Tankers Price Performance

NAT opened at $3.74 on Friday. The company has a market cap of $791.95 million, a PE ratio of 187.09 and a beta of -0.45. Nordic American Tankers has a twelve month low of $2.13 and a twelve month high of $3.93. The company has a 50-day moving average price of $3.55 and a 200 day moving average price of $3.11. The company has a quick ratio of 2.04, a current ratio of 1.95 and a debt-to-equity ratio of 0.86.

Nordic American Tankers (NYSE:NAT – Get Free Report) last posted its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%.The firm had revenue of $40.18 million during the quarter, compared to analyst estimates of $52.89 million. Sell-side analysts expect that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 13.9%. The ex-dividend date of this dividend is Monday, December 8th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.10. Nordic American Tankers’s dividend payout ratio is presently 2,000.00%.

Institutional Investors Weigh In On Nordic American Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in Nordic American Tankers by 5.1% in the 1st quarter. Cetera Investment Advisers now owns 292,146 shares of the shipping company’s stock valued at $719,000 after purchasing an additional 14,100 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Nordic American Tankers by 46.5% during the 1st quarter. XTX Topco Ltd now owns 78,086 shares of the shipping company’s stock worth $192,000 after buying an additional 24,774 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Nordic American Tankers by 312.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock valued at $54,000 after buying an additional 16,644 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Nordic American Tankers by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 502,148 shares of the shipping company’s stock valued at $1,235,000 after buying an additional 12,781 shares during the period. Finally, Nuveen LLC acquired a new position in Nordic American Tankers in the first quarter valued at approximately $3,150,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

About Nordic American Tankers

(Get Free Report)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.

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