Nordic American Tankers (NYSE:NAT) Price Target Lowered to $3.50 at Jefferies Financial Group

Nordic American Tankers (NYSE:NAT) had its target price reduced by Jefferies Financial Group from $4.00 to $3.50 in a report issued on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the shipping company’s stock.

NAT has been the subject of several other reports. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday. Evercore ISI dropped their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th.

Nordic American Tankers Trading Down 1.3 %

Shares of NYSE NAT traded down $0.04 during mid-day trading on Thursday, hitting $3.02. The stock had a trading volume of 922,126 shares, compared to its average volume of 2,508,177. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. Nordic American Tankers has a 1 year low of $2.95 and a 1 year high of $4.64. The business has a 50 day moving average price of $3.50 and a two-hundred day moving average price of $3.75. The firm has a market cap of $630.58 million, a P/E ratio of 10.55 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same quarter in the previous year, the business posted $0.13 EPS. On average, equities analysts anticipate that Nordic American Tankers will post 0.32 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 annualized dividend and a dividend yield of 15.89%. Nordic American Tankers’s dividend payout ratio (DPR) is 165.52%.

Institutional Trading of Nordic American Tankers

Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Nordic American Tankers during the second quarter worth about $25,000. Raymond James Trust N.A. acquired a new position in Nordic American Tankers in the third quarter valued at approximately $37,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nordic American Tankers during the 1st quarter worth approximately $45,000. Bluefin Capital Management LLC acquired a new position in shares of Nordic American Tankers during the 2nd quarter worth approximately $47,000. Finally, SG Americas Securities LLC acquired a new position in shares of Nordic American Tankers during the 1st quarter worth approximately $47,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.