Nordic American Tankers Ltd. (NAT) Trading 4.6% Higher
Shares of Nordic American Tankers Ltd. (NYSE:NAT) traded up 4.6% on Tuesday . The company 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.
A number of analysts have weighed in on the company. Vetr lowered Nordic American Tankers from a “buy” rating to a “hold” rating and set a $16.20 target price on the stock. in a research note on Tuesday, May 10th. Seaport Global Securities lowered Nordic American Tankers from a “buy” rating to a “neutral” rating and set a $16.00 target price 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 reiterated an “equal weight” rating and issued a $9.00 target price (down previously from $12.00) on shares of Nordic American Tankers in a research note on Friday, August 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.16.
The company’s 50-day moving average is $12.06 and its 200 day moving average is $13.74. The stock has a market cap of $916.41 million and a PE ratio of 9.32.
Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. During the same period in the previous year, the firm earned $0.35 EPS. Equities research analysts forecast that Nordic American Tankers Ltd. will post $0.83 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.75%. The ex-dividend date was Monday, August 15th.
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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