Nordic American Tanker Upgraded to “Equal Weight” by Evercore Partners (NAT)
Nordic American Tanker (NYSE:NAT) was upgraded by investment analysts at Evercore Partners from an “underweight” rating to an “equal weight” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Shares of Nordic American Tanker (NYSE:NAT) traded up 3.15% on Monday, hitting $8.995. The stock had a trading volume of 1,349,597 shares. Nordic American Tanker has a 1-year low of $7.4852 and a 1-year high of $12.4359. The stock has a 50-day moving average of $8.9 and a 200-day moving average of $9.23. The company’s market cap is $678.1 million.
Nordic American Tanker (NYSE:NAT) last released its earnings data on Monday, August 11th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.17) by $0.40. The company had revenue of $22.62 million for the quarter, compared to the consensus estimate of $25.84 million. Analysts expect that Nordic American Tanker will post $-0.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 11th. Shareholders of record on Friday, July 25th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Wednesday, July 23rd.
NAT has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of Nordic American Tanker in a research note on Tuesday, July 8th. They set a “sell” rating and a $7.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Friday, June 20th. Finally, analysts at EuroPacific Canada initiated coverage on shares of Nordic American Tanker in a research note on Thursday, May 29th. They set a “neutral” rating and a $8.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.00.
Nordic American Tankers Limited is an international tanker company. As of December 31, 2011, the Company owned 20 Suezmax tankers.
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