Nordic American Tankers Limited (NYSE:NAT) has earned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.70.

A number of equities research analysts recently weighed in on NAT shares. Zacks Investment Research cut Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC restated a “sell” rating and issued a $5.00 price target on shares of Nordic American Tankers Limited in a research note on Monday, July 17th. Evercore ISI cut Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and dropped their price target for the company from $6.00 to $5.00 in a research note on Friday, July 21st. Maxim Group set a $5.00 price target on Nordic American Tankers Limited and gave the company a “sell” rating in a research note on Saturday, July 22nd. Finally, BidaskClub cut Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th.

A number of hedge funds have recently bought and sold shares of NAT. Principal Financial Group Inc. increased its position in Nordic American Tankers Limited by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after buying an additional 4,454 shares during the period. Karp Capital Management Corp bought a new position in Nordic American Tankers Limited during the 1st quarter worth $118,000. Aperio Group LLC increased its position in Nordic American Tankers Limited by 55.2% during the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after buying an additional 7,994 shares during the period. Sigma Planning Corp increased its position in Nordic American Tankers Limited by 44.2% during the 2nd quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock worth $151,000 after buying an additional 7,318 shares during the period. Finally, Airain ltd increased its position in Nordic American Tankers Limited by 79.8% during the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock worth $175,000 after buying an additional 12,256 shares during the period. Hedge funds and other institutional investors own 23.41% of the company’s stock.

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Shares of Nordic American Tankers Limited (NYSE NAT) opened at $4.21 on Monday. The company has a quick ratio of 3.87, a current ratio of 4.69 and a debt-to-equity ratio of 0.52. The company has a market cap of $429.29, a price-to-earnings ratio of 105.25 and a beta of 0.90.

Nordic American Tankers Limited (NYSE:NAT) last posted its quarterly earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business had revenue of $39.10 million during the quarter, compared to the consensus estimate of $42.47 million. During the same quarter last year, the company posted $0.15 EPS. The firm’s revenue was down 29.2% on a year-over-year basis. equities analysts forecast that Nordic American Tankers Limited will post -0.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Monday, November 13th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, November 10th.

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.

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

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