Nordic American Tanker (NAT) Releases Quarterly Earnings Results
Nordic American Tanker (NYSE:NAT) announced its earnings results on Monday. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.16 by $0.11, AnalystRatingsNetwork.com reports. The company had revenue of $45.02 million for the quarter, compared to the consensus estimate of $45.13 million.
Several analysts have recently commented on the stock. Analysts at Jefferies Group upgraded shares of Nordic American Tanker from an “underperform” rating to a “hold” rating in a research note on Monday, April 21st. They now have a $8.00 price target on the stock, up previously from $7.50. On a related note, analysts at Evercore Partners cut their price target on shares of Nordic American Tanker from $9.00 to $8.50 in a research note on Friday, April 11th. Finally, analysts at Swedbank upgraded shares of Nordic American Tanker from a “reduce” rating to a “neutral” rating in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.38.
Shares of Nordic American Tanker (NYSE:NAT) opened at 8.21 on Monday. Nordic American Tanker has a 52 week low of $7.00 and a 52 week high of $12.61. The stock has a 50-day moving average of $8.99 and a 200-day moving average of $9.36. The company’s market cap is $618.7 million.
The company also recently announced a dividend, which is scheduled for Tuesday, May 27th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 13th.
Nordic American Tankers Limited is an international tanker company. As of December 31, 2011, the Company owned 20 Suezmax tankers.
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