Nordic American Tankers (NYSE:NAT) Sets New 12-Month High – Time to Buy?

Shares of Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week high on Thursday . The company traded as high as $4.12 and last traded at $4.0550, with a volume of 2751745 shares traded. The stock had previously closed at $4.06.

Analyst Ratings Changes

NAT has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a research note on Friday, November 28th. Evercore ISI increased their price objective on Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Price Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a 50 day simple moving average of $3.64 and a 200-day simple moving average of $3.29. The firm has a market cap of $866.06 million, a PE ratio of 204.60 and a beta of -0.43.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%.The company had revenue of $40.18 million during the quarter, compared to analysts’ expectations of $52.89 million. Sell-side analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.13 per share. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.52 annualized dividend and a yield of 12.7%. Nordic American Tankers’s payout ratio is currently 2,600.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlueStem Wealth Partners LLC purchased a new stake in shares of Nordic American Tankers during the third quarter valued at approximately $32,000. HBK Sorce Advisory LLC bought a new position in Nordic American Tankers in the 3rd quarter valued at approximately $33,000. Vanguard Personalized Indexing Management LLC bought a new position in Nordic American Tankers in the 3rd quarter valued at approximately $32,000. Savant Capital LLC purchased a new stake in Nordic American Tankers during the 2nd quarter valued at $28,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth $37,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.