Knightsbridge Tankers Limited Earns Buy Rating from Analysts at Jefferies Group (VLCCF)
Equities research analysts at Jefferies Group assumed coverage on shares of Knightsbridge Tankers Limited (NASDAQ:VLCCF) in a research note issued to investors on Wednesday. The firm set a “buy” rating on the stock.
Knightsbridge Tankers Limited (NASDAQ:VLCCF) opened at 12.07 on Wednesday. Knightsbridge Tankers Limited has a 1-year low of $7.21 and a 1-year high of $16.32. The stock’s 50-day moving average is $12.1 and its 200-day moving average is $12.87. The company has a market cap of $592.9 million and a price-to-earnings ratio of 18.77. Knightsbridge Tankers Limited also saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 2,093,106 shares, an increase of 37.4% from the July 31st total of 1,523,133 shares. Based on an average trading volume of 716,446 shares, the days-to-cover ratio is presently 2.9 days. Currently, 6.9% of the shares of the company are sold short.
Knightsbridge Tankers Limited (NASDAQ:VLCCF) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.11. On average, analysts predict that Knightsbridge Tankers Limited will post $0.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 6.63%. The ex-dividend date is Tuesday, August 26th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity upgraded shares of Knightsbridge Tankers Limited from a “hold” rating to a “buy” rating in a research note on Friday, August 8th. Separately, analysts at Evercore Partners cut their price target on shares of Knightsbridge Tankers Limited from $16.00 to $15.00 in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.80.
Knightsbridge Tankers Limited is an international shipping company specializing in the transportation of dry bulk cargoes.
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