Nordic American Tanker Ltd (NYSE:NAT) has been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $2.30.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research cut shares of Nordic American Tanker from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Morgan Stanley reduced their target price on shares of Nordic American Tanker from $2.50 to $2.25 and set an “equal weight” rating for the company in a research report on Wednesday, April 25th.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Nordic American Tanker by 9.3% during the second quarter. BlackRock Inc. now owns 7,120,379 shares of the shipping company’s stock worth $19,083,000 after purchasing an additional 607,170 shares during the period. Bienville Capital Management LLC bought a new stake in Nordic American Tanker during the second quarter worth about $1,512,000. Schwab Charles Investment Management Inc. lifted its position in Nordic American Tanker by 40.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,491,784 shares of the shipping company’s stock worth $3,998,000 after purchasing an additional 430,372 shares during the period. Greylin Investment Mangement Inc. lifted its position in Nordic American Tanker by 16.3% during the second quarter. Greylin Investment Mangement Inc. now owns 1,656,895 shares of the shipping company’s stock worth $4,440,000 after purchasing an additional 232,599 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Nordic American Tanker by 11.6% during the second quarter. Bank of New York Mellon Corp now owns 419,897 shares of the shipping company’s stock worth $1,125,000 after purchasing an additional 43,480 shares during the period. 24.46% of the stock is owned by institutional investors and hedge funds.
Shares of Nordic American Tanker traded down $0.17, reaching $2.36, during trading on Thursday, Marketbeat reports. The company’s stock had a trading volume of 755,119 shares, compared to its average volume of 992,581. Nordic American Tanker has a 52 week low of $1.82 and a 52 week high of $5.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.97 and a quick ratio of 3.82.
Nordic American Tanker (NYSE:NAT) last announced its earnings results on Wednesday, May 16th. The shipping company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.07. The company had revenue of $29.62 million during the quarter, compared to analysts’ expectations of $31.25 million. Nordic American Tanker had a negative net margin of 70.33% and a negative return on equity of 12.23%. equities analysts forecast that Nordic American Tanker will post -0.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Wednesday, August 22nd will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, August 21st. This is a boost from Nordic American Tanker’s previous quarterly dividend of $0.01. Nordic American Tanker’s payout ratio is presently -5.63%.
About Nordic American Tanker
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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