According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
Several other equities research analysts have also issued reports on the stock. ValuEngine upgraded shares of Nordic American Tanker from a strong sell rating to a sell rating in a research note on Friday, October 11th. B. Riley set a $5.00 price target on shares of Nordic American Tanker and gave the stock a buy rating in a research note on Friday, August 16th. Finally, BTIG Research upgraded shares of Nordic American Tanker from a neutral rating to a buy rating and set a $4.00 price target for the company in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $3.05.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings results on Friday, August 16th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. Nordic American Tanker had a negative net margin of 38.10% and a negative return on equity of 6.26%. The company had revenue of $30.65 million during the quarter, compared to analyst estimates of $33.65 million. Sell-side analysts anticipate that Nordic American Tanker will post -0.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 29th. Nordic American Tanker’s dividend payout ratio (DPR) is presently -6.56%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAT. Paloma Partners Management Co bought a new position in Nordic American Tanker in the 2nd quarter worth approximately $25,000. Man Group plc bought a new position in Nordic American Tanker in the 2nd quarter worth approximately $25,000. Chicago Equity Partners LLC bought a new position in Nordic American Tanker in the 2nd quarter worth approximately $26,000. GWM Advisors LLC bought a new position in Nordic American Tanker in the 2nd quarter valued at $28,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Nordic American Tanker in the 2nd quarter valued at $56,000. 24.58% of the stock is owned by institutional investors.
About Nordic American Tanker
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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