Nordic American Tankers (NYSE:NAT) Reaches New 52-Week 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 $4.57 and last traded at $4.5550, with a volume of 859776 shares changing hands. The stock had previously closed at $4.54.

Analysts Set New Price Targets

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

Nordic American Tankers Stock Performance

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 stock’s 50 day moving average is $3.93 and its 200 day moving average is $3.55. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 241.37 and a beta of -0.43.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $40.18 million during the quarter, compared to analyst estimates of $52.89 million. Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. On average, analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a $0.13 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend was Monday, December 8th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 2,600.00%.

Institutional Investors Weigh In On Nordic American Tankers

Large investors have recently modified their holdings of the stock. Savant Capital LLC purchased a new stake in shares of Nordic American Tankers during the second quarter worth about $28,000. Vanguard Personalized Indexing Management LLC acquired a new position in Nordic American Tankers in the third quarter valued at approximately $32,000. BlueStem Wealth Partners LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth approximately $32,000. HBK Sorce Advisory LLC acquired a new position in Nordic American Tankers during the 3rd quarter valued at approximately $33,000. Finally, Torren Management LLC bought a new stake in Nordic American Tankers in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

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.