Nordic American Tankers Ltd. (NAT) Lowered to “Sell” at Zacks Investment Research
Nordic American Tankers Ltd. (NYSE:NAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
A number of other research firms have also recently weighed in on NAT. ABN Amro cut Nordic American Tankers from a “buy” rating to a “sell” rating in a report on Thursday, June 30th. Vetr raised Nordic American Tankers from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, June 29th. Jefferies Group reissued a “sell” rating on shares of Nordic American Tankers in a report on Tuesday, September 6th. Clarkson Capital cut Nordic American Tankers from a “buy” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $10.00 in a report on Monday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.63.
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Nordic American Tankers (NYSE:NAT) opened at 9.91 on Tuesday. The company’s 50-day moving average price is $10.35 and its 200 day moving average price is $13.08. Nordic American Tankers has a 1-year low of $9.80 and a 1-year high of $17.02. The firm has a market cap of $885.15 million, a price-to-earnings ratio of 9.01 and a beta of 1.05.
Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Nordic American Tankers had a return on equity of 11.28% and a net margin of 34.79%. During the same period in the previous year, the business earned $0.35 earnings per share. On average, equities analysts expect that Nordic American Tankers will post $0.64 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of NAT. HighPoint Advisor Group LLC increased its stake in Nordic American Tankers by 1.3% in the second quarter. HighPoint Advisor Group LLC now owns 16,100 shares of the company’s stock worth $198,000 after buying an additional 200 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Nordic American Tankers by 0.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 207,086 shares of the company’s stock worth $2,877,000 after buying an additional 564 shares during the period. Parametric Portfolio Associates LLC increased its stake in Nordic American Tankers by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 71,415 shares of the company’s stock worth $992,000 after buying an additional 799 shares during the period. Suntrust Banks Inc. increased its stake in Nordic American Tankers by 4.9% in the second quarter. Suntrust Banks Inc. now owns 17,214 shares of the company’s stock worth $238,000 after buying an additional 804 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its stake in Nordic American Tankers by 3.9% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 22,697 shares of the company’s stock worth $315,000 after buying an additional 862 shares during the period. 29.31% of the stock is owned by hedge funds and other 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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