StockNews.com downgraded shares of Nordic American Tankers (NYSE:NAT – Free Report) from a hold rating to a sell rating in a research note released on Tuesday.
A number of other research analysts have also recently commented on NAT. Evercore ISI reduced their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 price objective on shares of Nordic American Tankers in a report on Thursday, September 12th.
View Our Latest Research Report on Nordic American Tankers
Nordic American Tankers Stock Performance
Nordic American Tankers (NYSE:NAT – Get Free Report) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The company had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. During the same period last year, the company posted $0.13 earnings per share. As a group, equities research analysts anticipate that Nordic American Tankers will post 0.32 EPS for the current year.
Nordic American Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 14.55%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 165.52%.
Institutional Trading of Nordic American Tankers
A number of hedge funds and other institutional investors have recently made changes to their positions in NAT. Headlands Technologies LLC bought a new position in Nordic American Tankers during the 2nd quarter valued at $25,000. Diversify Advisory Services LLC acquired a new stake in shares of Nordic American Tankers in the 1st quarter valued at about $41,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Nordic American Tankers in the 1st quarter valued at about $45,000. SG Americas Securities LLC bought a new position in shares of Nordic American Tankers during the first quarter worth about $47,000. Finally, Bluefin Capital Management LLC acquired a new position in Nordic American Tankers in the second quarter worth about $47,000. Institutional investors own 44.29% of the company’s stock.
Nordic American Tankers Company Profile
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.
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