Nordic American Tankers Ltd. (NAT) Shares Up 4.6%
Nordic American Tankers Ltd. (NYSE:NAT)’s share price shot up 4.6% during mid-day trading on Tuesday . The stock traded as high as $11.02 and last traded at $10.55, with a volume of 1,613,177 shares traded. The stock had previously closed at $10.09.
Several brokerages recently issued reports on NAT. Vetr cut Nordic American Tankers from a “buy” rating to a “hold” rating and set a $16.20 price objective on the stock. in a research note on Tuesday, May 10th. Seaport Global Securities cut Nordic American Tankers from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Wednesday, May 4th. Zacks Investment Research upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Finally, Morgan Stanley restated an “equal weight” rating and set a $9.00 price objective (down from $12.00) on shares of Nordic American Tankers in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $13.16.
The company has a market cap of $944.10 million and a P/E ratio of 9.60. The stock’s 50 day moving average price is $12.26 and its 200-day moving average price is $13.78.
Nordic American Tankers (NYSE:NAT) last posted its earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. During the same period last year, the business earned $0.35 earnings per share. On average, equities analysts anticipate that Nordic American Tankers Ltd. will post $0.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $1.00 annualized dividend and a yield of 9.46%.
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.
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