Nordic American Tankers (NYSE:NAT) Issues Earnings Results

Nordic American Tankers (NYSE:NAT) posted its quarterly earnings data on Friday. The shipping company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02), Zacks reports. Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%.

Nordic American Tankers Price Performance

Shares of NAT stock opened at $3.78 on Friday. The firm’s 50 day moving average price is $3.50 and its two-hundred day moving average price is $3.07. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.04 and a current ratio of 2.33. The stock has a market cap of $799.78 million, a PE ratio of 54.21 and a beta of -0.36. Nordic American Tankers has a 52-week low of $2.13 and a 52-week high of $3.93.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research note on Friday. Evercore ISI increased their price objective on shares of Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.25.

Institutional Investors Weigh In On Nordic American Tankers

Several hedge funds have recently bought and sold shares of NAT. Ausdal Financial Partners Inc. bought a new position in Nordic American Tankers during the third quarter worth about $53,000. Focus Partners Wealth raised its position in shares of Nordic American Tankers by 30.5% during the third quarter. Focus Partners Wealth now owns 18,924 shares of the shipping company’s stock worth $59,000 after purchasing an additional 4,424 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Nordic American Tankers by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 19,890 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 8,114 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Nordic American Tankers during the 3rd quarter valued at about $69,000. Finally, Franklin Resources Inc. grew its position in shares of Nordic American Tankers by 41.2% in the 2nd quarter. Franklin Resources Inc. now owns 23,501 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 6,854 shares during the period. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.