Nordic American Tankers (NYSE:NAT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nordic American Tankers (NYSE:NAT) from a sell rating to a hold rating in a report released on Wednesday.

NAT has been the subject of several other research reports. Jefferies Financial Group reissued a “hold” rating and issued a $4.00 price target on shares of Nordic American Tankers in a report on Thursday, September 12th. Evercore ISI dropped their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th.

Nordic American Tankers Trading Down 3.5 %

NYSE NAT opened at $3.16 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The company has a market capitalization of $658.76 million, a price-to-earnings ratio of 10.88 and a beta of -0.21. The company’s 50-day simple moving average is $3.55 and its two-hundred day simple moving average is $3.77. Nordic American Tankers has a one year low of $3.06 and a one year high of $4.65.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The company had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. During the same period last year, the business earned $0.13 EPS. Equities analysts forecast that Nordic American Tankers will post 0.32 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 15.21%. Nordic American Tankers’s payout ratio is 165.52%.

Institutional Investors Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently made changes to their positions in the business. Philip James Wealth Mangement LLC acquired a new position in Nordic American Tankers in the 3rd quarter valued at about $4,069,000. TrueMark Investments LLC purchased a new position in Nordic American Tankers in the 2nd quarter worth approximately $4,373,000. American Century Companies Inc. boosted its holdings in Nordic American Tankers by 40.5% in the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after acquiring an additional 1,009,096 shares during the period. Millennium Management LLC boosted its holdings in Nordic American Tankers by 122.8% in the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after acquiring an additional 711,973 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Nordic American Tankers during the 1st quarter valued at approximately $2,443,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.