Nordic American Tanker Rating Lowered to Sell at TheStreet (NAT)
Nordic American Tanker (NYSE:NAT) traded down 1.99% during mid-day trading on Friday, hitting $8.86. The stock had a trading volume of 353,112 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 $8.92 and a 200-day moving average of $9.15. The company’s market cap is $776.7 million.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ 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 $-0.19 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Evercore Partners upgraded shares of Nordic American Tanker from an “underweight” rating to an “equal weight” rating in a research note on Monday. Separately, 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. 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. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.25.
Nordic American Tankers Limited is an international tanker company. As of December 31, 2011, the Company owned 20 Suezmax tankers.
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