Nordic American Tankers Ltd. (NAT) Given Average Rating of “Hold” by Analysts
Nordic American Tankers Ltd. (NYSE:NAT) has been given an average rating of “Hold” by the seven research firms that are presently covering the firm. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $12.70.
Several equities research analysts have recently issued reports on NAT shares. Vetr upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating and set a $14.14 price objective on the stock in a research note on Wednesday, June 15th. Zacks Investment Research downgraded shares of Nordic American Tankers from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. ABN Amro cut Nordic American Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Jefferies Group set a $8.00 target price on Nordic American Tankers and gave the stock an “underperform” rating in a research report on Wednesday, July 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.00 target price (down from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th.
Shares of Nordic American Tankers (NYSE:NAT) traded down 4.04% during trading on Tuesday, reaching $9.51. 2,261,516 shares of the company were exchanged. Nordic American Tankers has a 52-week low of $9.43 and a 52-week high of $17.02. The stock has a 50-day moving average of $10.35 and a 200 day moving average of $13.08. The stock has a market capitalization of $849.42 million, a P/E ratio of 8.65 and a beta of 1.05.
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Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same period in the prior year, the business earned $0.35 EPS. On average, equities analysts anticipate that Nordic American Tankers will post $0.64 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in shares of Nordic American Tankers by 95.5% in the first quarter. IFP Advisors Inc now owns 7,094 shares of the company’s stock worth $100,000 after buying an additional 3,465 shares during the last quarter. Mission Wealth Management LLC bought a new position in shares of Nordic American Tankers during the second quarter worth about $139,000. Paloma Partners Management Co bought a new position in shares of Nordic American Tankers during the second quarter worth about $141,000. Stevens Capital Management LP bought a new position in shares of Nordic American Tankers during the second quarter worth about $142,000. Finally, BB&T Securities LLC bought a new position in shares of Nordic American Tankers during the second quarter worth about $144,000. 29.31% of the stock is owned by institutional investors.
Nordic American Tankers Company Profile
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.
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