Shares of Nordic American Tanker Ltd (NYSE:NAT) have been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.36.
A number of research firms have commented on NAT. Clarkson Capital raised Nordic American Tanker from a “neutral” rating to a “buy” rating in a 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 report on Monday, February 12th. Morgan Stanley reduced their target price on Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating for the company in a report on Monday, February 12th. Maxim Group reissued a “sell” rating and issued a $1.00 target price on shares of Nordic American Tanker in a report on Monday, February 12th. Finally, Credit Suisse Group reduced their target price on Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, February 13th.
Several hedge funds have recently made changes to their positions in the company. 683 Capital Management LLC purchased a new position in shares of Nordic American Tanker in the fourth quarter valued at $923,000. Jane Street Group LLC increased its position in shares of Nordic American Tanker by 433.5% in the fourth quarter. Jane Street Group LLC now owns 83,563 shares of the shipping company’s stock valued at $206,000 after buying an additional 67,899 shares in the last quarter. Millennium Management LLC increased its position in shares of Nordic American Tanker by 257.3% in the fourth quarter. Millennium Management LLC now owns 99,981 shares of the shipping company’s stock valued at $246,000 after buying an additional 72,002 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Nordic American Tanker by 30.0% in the fourth quarter. Guggenheim Capital LLC now owns 1,135,640 shares of the shipping company’s stock valued at $2,792,000 after buying an additional 262,039 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Nordic American Tanker by 154.6% in the fourth quarter. Deutsche Bank AG now owns 237,990 shares of the shipping company’s stock valued at $584,000 after buying an additional 144,517 shares in the last quarter. Institutional investors and hedge funds own 21.86% of the company’s stock.
Nordic American Tanker (NYSE:NAT) last released its earnings results on Monday, February 12th. The shipping company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Nordic American Tanker had a negative net margin of 48.82% and a negative return on equity of 9.11%. The business had revenue of $36.72 million during the quarter, compared to analyst estimates of $45.46 million. equities analysts anticipate that Nordic American Tanker will post -0.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders 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 5.50%. The ex-dividend date is Tuesday, February 20th. Nordic American Tanker’s dividend payout ratio is currently -16.44%.
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.
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