Nordic American Tankers (NYSE:NAT) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Nordic American Tankers (NYSE:NAT) from a hold rating to a sell rating in a research report report published on Thursday.

Other equities research analysts have also issued research reports about the company. Evercore ISI reduced their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th. Jefferies Financial Group reissued a “hold” rating and issued a $4.00 target price on shares of Nordic American Tankers in a report on Thursday, September 12th.

Nordic American Tankers Trading Down 2.6 %

NAT opened at $2.98 on Thursday. Nordic American Tankers has a 52 week low of $2.95 and a 52 week high of $4.64. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $3.74. The firm has a market cap of $622.22 million, a P/E ratio of 10.28 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period last year, the business posted $0.13 EPS. On average, equities analysts expect that Nordic American Tankers will post 0.28 earnings per share for the current year.

Nordic American Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a yield of 16.11%. Nordic American Tankers’s payout ratio is currently 165.52%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in Nordic American Tankers by 46.3% in the first quarter. BNP Paribas Financial Markets now owns 109,406 shares of the shipping company’s stock valued at $429,000 after acquiring an additional 34,631 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Nordic American Tankers during the first quarter worth about $47,000. Russell Investments Group Ltd. lifted its holdings in shares of Nordic American Tankers by 36,804.9% in the 1st quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock valued at $2,432,000 after purchasing an additional 618,690 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Nordic American Tankers by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 2,904 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Nordic American Tankers in the 1st quarter valued at about $2,443,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

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.