Nordic American Tanker Ltd (NAT) Receives Average Rating of “Hold” from Analysts

Nordic American Tanker Ltd (NYSE:NAT) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $3.36.

A number of brokerages have issued reports on NAT. Clarkson Capital raised Nordic American Tanker from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Seaport Global Securities set a $3.00 target price on Nordic American Tanker and gave the company a “hold” rating in a research report on Monday. Maxim Group reaffirmed a “sell” rating and issued a $1.00 target price on shares of Nordic American Tanker in a research report on Monday. Morgan Stanley cut their target price on Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Credit Suisse Group cut their target price on Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday.

Institutional investors and hedge funds have recently made changes to their positions in the business. TIAA CREF Investment Management LLC increased its holdings in shares of Nordic American Tanker by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 264,049 shares of the shipping company’s stock valued at $1,674,000 after acquiring an additional 922 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Nordic American Tanker by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 411,778 shares of the shipping company’s stock valued at $2,611,000 after acquiring an additional 3,425 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Nordic American Tanker by 37.9% in the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after acquiring an additional 4,454 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Nordic American Tanker by 5.3% in the 2nd quarter. Alliancebernstein L.P. now owns 109,855 shares of the shipping company’s stock valued at $696,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Nordic American Tanker by 14.0% in the 2nd quarter. Voya Investment Management LLC now owns 46,032 shares of the shipping company’s stock valued at $292,000 after acquiring an additional 5,659 shares during the last quarter. 17.33% of the stock is currently owned by institutional investors.

Nordic American Tanker (NAT) opened at $2.14 on Wednesday. The company has a market capitalization of $303.77, a P/E ratio of -2.35 and a beta of 0.81. The company has a current ratio of 3.52, a quick ratio of 2.71 and a debt-to-equity ratio of 0.58. Nordic American Tanker has a 52-week low of $1.82 and a 52-week high of $8.68.

Nordic American Tanker (NYSE:NAT) last released its quarterly earnings results on Monday, February 12th. The shipping company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $36.72 million for the quarter, compared to analyst estimates of $45.46 million. Nordic American Tanker had a negative return on equity of 6.49% and a negative net margin of 32.51%. analysts predict that Nordic American Tanker will post -0.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend is Tuesday, February 20th. Nordic American Tanker’s payout ratio is -13.19%.

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About Nordic American Tanker

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Analyst Recommendations for Nordic American Tanker (NYSE:NAT)

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