Nordic American Tankers Limited (NAT) Rating Increased to Buy at Vetr Inc.

Nordic American Tankers Limited (NYSE:NAT) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Wednesday, May 24th. The brokerage currently has a $7.08 price target on the shipping company’s stock. Vetr‘s target price indicates a potential upside of 18.00% from the stock’s previous close.

NAT has been the topic of a number of other research reports. Jefferies Group LLC reiterated a “sell” rating and set a $7.00 price objective on shares of Nordic American Tankers Limited in a research report on Friday, March 31st. Maxim Group reiterated a “sell” rating and set a $6.00 price objective on shares of Nordic American Tankers Limited in a research report on Friday, April 21st. Zacks Investment Research upgraded shares of Nordic American Tankers Limited from a “sell” rating to a “hold” rating in a research report on Friday, February 10th. Credit Suisse Group reiterated a “neutral” rating on shares of Nordic American Tankers Limited in a research report on Wednesday, February 22nd. Finally, Morgan Stanley cut their price objective on shares of Nordic American Tankers Limited from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 7th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.42.

Analyst Recommendations for Nordic American Tankers Limited (NYSE:NAT)

Nordic American Tankers Limited (NAT) traded up 0.84% during midday trading on Wednesday, hitting $6.00. 870,779 shares of the stock were exchanged. The firm’s 50-day moving average price is $6.74 and its 200 day moving average price is $8.00. Nordic American Tankers Limited has a 1-year low of $5.47 and a 1-year high of $14.84. The firm’s market capitalization is $611.81 million.

Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings results on Monday, May 8th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.04. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business had revenue of $55.20 million for the quarter, compared to analysts’ expectations of $55.53 million. During the same period in the previous year, the company earned $0.33 EPS. Nordic American Tankers Limited’s revenue for the quarter was down 28.0% compared to the same quarter last year. Analysts expect that Nordic American Tankers Limited will post ($0.17) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Monday, May 22nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.33%. The ex-dividend date was Thursday, May 18th. Nordic American Tankers Limited’s payout ratio is presently 4,000.00%.

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Several hedge funds and other institutional investors have recently bought and sold shares of NAT. Van Den Berg Management I Inc. bought a new position in Nordic American Tankers Limited during the first quarter worth approximately $9,082,000. Norges Bank acquired a new position in shares of Nordic American Tankers Limited during the fourth quarter valued at about $5,608,000. Global X Management Co. LLC boosted its position in shares of Nordic American Tankers Limited by 99.6% in the first quarter. Global X Management Co. LLC now owns 1,049,215 shares of the shipping company’s stock valued at $8,583,000 after buying an additional 523,510 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Nordic American Tankers Limited by 86.8% in the first quarter. Wells Fargo & Company MN now owns 408,783 shares of the shipping company’s stock valued at $3,344,000 after buying an additional 189,905 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Nordic American Tankers Limited by 12.3% in the fourth quarter. State Street Corp now owns 1,624,244 shares of the shipping company’s stock valued at $13,646,000 after buying an additional 177,465 shares during the last quarter. Hedge funds and other institutional investors own 26.90% of the company’s stock.

Nordic American Tankers Limited 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.

To view Vetr’s full report, visit Vetr’s official website.

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