Nordic American Tankers (NYSE:NAT) Hits New 12-Month High – Time to Buy?

Nordic American Tankers Limited (NYSE:NAT)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $6.34 and last traded at $5.9250, with a volume of 3694330 shares. The stock had previously closed at $5.73.

Analyst Ratings Changes

NAT has been the topic of several analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a report on Friday, November 28th. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nordic American Tankers in a research report on Monday, December 29th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Nordic American Tankers presently has a consensus rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Price Performance

The company has a 50 day moving average of $4.13 and a 200 day moving average of $3.66. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 84.94 and a beta of -0.50.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Thursday, February 26th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $58.76 million during the quarter, compared to analyst estimates of $69.43 million. Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.42%. Equities research analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.13. Nordic American Tankers’s dividend payout ratio (DPR) is currently 742.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in shares of Nordic American Tankers during the fourth quarter worth $34,000. BlueStem Wealth Partners LLC bought a new position in Nordic American Tankers during the 3rd quarter worth about $32,000. HBK Sorce Advisory LLC acquired a new stake in shares of Nordic American Tankers in the 3rd quarter valued at about $33,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Nordic American Tankers in the third quarter valued at about $32,000. Finally, ROI Financial Advisors LLC bought a new stake in shares of Nordic American Tankers in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.