Nordic American Tankers (NYSE:NAT) Sets New 52-Week High – What’s Next?

Nordic American Tankers Limited (NYSE:NAT)’s stock price reached a new 52-week high on Friday . The company traded as high as $6.80 and last traded at $6.8110, with a volume of 307432 shares changing hands. The stock had previously closed at $6.61.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore downgraded Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $4.00.

Nordic American Tankers Stock Up 1.6%

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 company has a market capitalization of $1.42 billion, a PE ratio of 24.83 and a beta of -0.57. The stock’s fifty day moving average is $6.04 and its two-hundred day moving average is $5.57.

Nordic American Tankers (NYSE:NAT) last released 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. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $77.51 million during the quarter, compared to the consensus estimate of $81.86 million. As a group, analysts predict that Nordic American Tankers Limited will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 13.1%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. Nordic American Tankers’s payout ratio is currently 325.93%.

Hedge Funds Weigh In On Nordic American Tankers

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

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.