According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
Several other research firms have also commented on NAT. B. Riley set a $5.00 price objective on Nordic American Tanker and gave the stock a buy rating in a research report on Friday, August 16th. ValuEngine lowered Nordic American Tanker from a hold rating to a sell rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Nordic American Tanker currently has a consensus rating of Hold and a consensus target price of $2.81.
Nordic American Tanker (NYSE:NAT) last released its quarterly earnings data on Friday, August 16th. The shipping company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. Nordic American Tanker had a negative return on equity of 6.26% and a negative net margin of 38.10%. The business had revenue of $30.65 million for the quarter, compared to analyst estimates of $33.65 million. As a group, equities research analysts expect that Nordic American Tanker will post -0.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Thursday, August 29th. Nordic American Tanker’s payout ratio is -6.56%.
Several hedge funds have recently made changes to their positions in NAT. Renaissance Technologies LLC raised its stake in shares of Nordic American Tanker by 146.9% during the 2nd quarter. Renaissance Technologies LLC now owns 997,500 shares of the shipping company’s stock worth $2,334,000 after buying an additional 593,500 shares during the period. JPMorgan Chase & Co. raised its stake in Nordic American Tanker by 306.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 768,521 shares of the shipping company’s stock valued at $1,722,000 after purchasing an additional 579,347 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Nordic American Tanker by 396.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 304,050 shares of the shipping company’s stock valued at $711,000 after purchasing an additional 242,759 shares during the last quarter. Morgan Stanley raised its stake in Nordic American Tanker by 2.3% in the 2nd quarter. Morgan Stanley now owns 5,318,977 shares of the shipping company’s stock valued at $12,447,000 after purchasing an additional 121,784 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Nordic American Tanker in the 2nd quarter valued at $279,000. 24.58% of the stock is owned by institutional investors and hedge funds.
Nordic American Tanker Company Profile
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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