Nordic American Tankers (NYSE:NAT) Sets New 12-Month High – Here’s What Happened

Nordic American Tankers Limited (NYSE:NAT)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $4.25 and last traded at $4.1090, with a volume of 3098567 shares traded. The stock had previously closed at $4.22.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Evercore ISI raised their price target on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a research report on Monday, December 29th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Nordic American Tankers has a consensus rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Price Performance

The firm has a market capitalization of $867.12 million, a price-to-earnings ratio of 204.85 and a beta of -0.44. The company’s 50 day moving average is $3.72 and its 200 day moving average is $3.40. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.86.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%.The business had revenue of $40.18 million during the quarter, compared to analyst estimates of $52.89 million. On average, equities research analysts anticipate that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.13 per share. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend was Monday, December 8th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 2,600.00%.

Hedge Funds Weigh In On Nordic American Tankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in Nordic American Tankers by 9.5% during the 4th quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock worth $123,000 after purchasing an additional 3,120 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Nordic American Tankers by 21.4% in the third quarter. Sequoia Financial Advisors LLC now owns 19,260 shares of the shipping company’s stock worth $60,000 after acquiring an additional 3,395 shares during the period. SBI Securities Co. Ltd. increased its position in Nordic American Tankers by 8.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 44,932 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 3,445 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Nordic American Tankers by 23.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 18,201 shares of the shipping company’s stock worth $63,000 after purchasing an additional 3,450 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Nordic American Tankers by 15.9% during the 3rd quarter. Franklin Resources Inc. now owns 27,236 shares of the shipping company’s stock worth $86,000 after purchasing an additional 3,735 shares during the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.