Nordic American Tankers Ltd. (NAT) Shares Down 2.7%
Shares of Nordic American Tankers Ltd. (NYSE:NAT) dropped 2.7% during trading on Thursday . The stock traded as low as $10.27 and last traded at $10.27, with a volume of 944,773 shares changing hands. The stock had previously closed at $10.55.
NAT has been the subject of several research reports. ABN Amro downgraded shares of Nordic American Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Vetr upgraded shares of Nordic American Tankers from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, June 29th. Jefferies Group cut shares of Nordic American Tankers from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $12.00 to $10.00 in a research note on Tuesday, May 10th. Morgan Stanley reissued an “equal weight” rating and issued a $9.00 price objective (down from $12.00) on shares of Nordic American Tankers in a research note on Friday. Finally, Zacks Investment Research raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $13.16.
The firm has a 50-day moving average price of $12.35 and a 200-day moving average price of $13.75. The company has a market cap of $898.55 million and a price-to-earnings ratio of 9.14.
Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. During the same period in the previous year, the firm posted $0.35 earnings per share. Equities analysts predict that Nordic American Tankers Ltd. will post $0.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 9.94%.
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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