Nordic American Tankers (NYSE:NAT) Sets New 12-Month High – Should You Buy?

Nordic American Tankers Limited (NYSE:NAT)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $6.34 and last traded at $6.3250, with a volume of 2544313 shares trading hands. The stock had previously closed at $6.21.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Evercore downgraded Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target on the stock. in a research note on Tuesday, April 21st. Wall Street Zen raised Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 7th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $4.00.

Nordic American Tankers Price Performance

The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $5.57 and a 200 day simple moving average of $4.89. The stock has a market capitalization of $1.34 billion, a P/E ratio of 23.39 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $77.51 million for the quarter, compared to analyst estimates of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. On average, analysts expect that Nordic American Tankers Limited will post 0.58 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.22 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, June 10th. This represents a $0.88 annualized dividend and a yield of 14.0%. Nordic American Tankers’s dividend payout ratio (DPR) is 325.93%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlueStem Wealth Partners LLC bought a new stake in Nordic American Tankers in the 3rd quarter worth about $32,000. Torren Management LLC purchased a new position in Nordic American Tankers in the fourth quarter worth $34,000. ROI Financial Advisors LLC bought a new position in Nordic American Tankers in the 4th quarter valued at $36,000. Parkside Financial Bank & Trust increased its position in shares of Nordic American Tankers by 2,800.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 10,500 shares during the last quarter. Finally, Stokes Family Office LLC bought a new stake in shares of Nordic American Tankers during the 4th quarter worth $37,000. 44.29% of the stock is owned by institutional investors.

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.