Maxim Group reaffirmed their sell rating on shares of Nordic American Tanker (NYSE:NAT) in a research note released on Monday morning. The firm currently has a $1.00 target price on the shipping company’s stock.
“NAT reported 4Q17 results which were ahead of our estimates, but below the consensus forecasts, and remained depressed. The beat was mainly attributable to a higher TCE rate of $13,800 per vessel/day versus our estimate of $10,500 per vessel/day.”,” the firm’s analyst commented.
A number of other brokerages have also recently issued reports on NAT. Morgan Stanley cut their target price on Nordic American Tanker from $6.50 to $5.00 and set an equal weight rating on the stock in a report on Wednesday, November 8th. Zacks Investment Research upgraded Nordic American Tanker from a sell rating to a hold rating in a report on Saturday, December 2nd. Jefferies Group upgraded Nordic American Tanker from an underperform rating to a hold rating and set a $3.00 target price on the stock in a report on Thursday, December 14th. Clarkson Capital upgraded Nordic American Tanker from a neutral rating to a buy rating in a report on Friday, January 5th. Finally, Seaport Global Securities set a $3.00 target price on Nordic American Tanker and gave the stock a hold rating in a report on Friday, January 5th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $3.36.
Nordic American Tanker (NAT) opened at $2.19 on Monday. The stock has a market capitalization of $305.23, a P/E ratio of -3.01 and a beta of 0.80. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $8.68. The company has a current ratio of 3.52, a quick ratio of 2.71 and a debt-to-equity ratio of 0.58.
Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings results on Monday, February 12th. The shipping company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $36.72 million for the quarter, compared to the consensus estimate of $45.46 million. Nordic American Tanker had a negative return on equity of 9.11% and a negative net margin of 48.82%. sell-side analysts anticipate that Nordic American Tanker will post -0.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Wednesday, February 21st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Tuesday, February 20th. Nordic American Tanker’s dividend payout ratio is currently -16.44%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in Nordic American Tanker by 46.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 435,285 shares of the shipping company’s stock valued at $2,760,000 after buying an additional 138,574 shares during the last quarter. Principal Financial Group Inc. raised its position in Nordic American Tanker by 37.9% in the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares during the last quarter. Wells Fargo & Company MN raised its position in Nordic American Tanker by 19.0% in the 2nd quarter. Wells Fargo & Company MN now owns 486,605 shares of the shipping company’s stock valued at $3,085,000 after buying an additional 77,822 shares during the last quarter. Alliancebernstein L.P. raised its position in Nordic American Tanker by 5.3% in the 2nd quarter. Alliancebernstein L.P. now owns 109,855 shares of the shipping company’s stock valued at $696,000 after buying an additional 5,500 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Nordic American Tanker by 6.8% in the 2nd quarter. Teachers Advisors LLC now owns 178,501 shares of the shipping company’s stock valued at $1,132,000 after buying an additional 11,436 shares during the last quarter. Institutional investors own 17.33% of the company’s stock.
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Nordic American Tanker Company Profile
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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