Seaport Global Securities set a $3.00 target price on Nordic American Tanker (NYSE:NAT) in a report released on Monday. The firm currently has a hold rating on the shipping company’s stock.

Several other brokerages also recently weighed in on NAT. Maxim Group reiterated a sell rating and issued a $3.00 price objective (down from $4.00) on shares of Nordic American Tanker in a research report on Monday, October 23rd. Morgan Stanley cut their price objective on shares of Nordic American Tanker from $6.50 to $5.00 and set an equal weight rating on the stock in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Nordic American Tanker from a sell rating to a hold rating in a research report on Saturday, December 2nd. Jefferies Group upgraded shares of Nordic American Tanker from an underperform rating to a hold rating and set a $3.00 price objective on the stock in a research report on Thursday, December 14th. Finally, Clarkson Capital upgraded shares of Nordic American Tanker from a neutral rating to a buy rating in a research report on Friday, January 5th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $3.36.

Shares of Nordic American Tanker (NYSE:NAT) opened at $2.15 on Monday. Nordic American Tanker has a 52-week low of $1.82 and a 52-week high of $8.68. The company has a quick ratio of 2.71, a current ratio of 3.52 and a debt-to-equity ratio of 0.58.

Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Monday, February 12th. The shipping company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). The firm had revenue of $36.72 million during the quarter, compared to the consensus estimate of $45.46 million. Nordic American Tanker had a negative net margin of 48.82% and a negative return on equity of 9.11%. sell-side analysts expect that Nordic American Tanker will post -0.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.03 per share. The ex-dividend date is Tuesday, February 20th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.58%. Nordic American Tanker’s dividend payout ratio (DPR) is -16.44%.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Nordic American Tanker by 1.4% during the 4th quarter. BlackRock Inc. now owns 4,536,032 shares of the shipping company’s stock worth $11,159,000 after buying an additional 64,705 shares in the last quarter. Key Square Capital Management LLC bought a new stake in shares of Nordic American Tanker during the 4th quarter worth about $5,768,000. Northern Trust Corp raised its position in shares of Nordic American Tanker by 40.4% during the 2nd quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock worth $14,536,000 after buying an additional 659,827 shares in the last quarter. State Street Corp raised its position in shares of Nordic American Tanker by 6.9% during the 2nd quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock worth $11,272,000 after buying an additional 114,052 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Nordic American Tanker by 30.0% during the 4th quarter. Guggenheim Capital LLC now owns 1,135,640 shares of the shipping company’s stock worth $2,792,000 after buying an additional 262,039 shares in the last quarter. Institutional investors own 17.33% of the company’s stock.

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About Nordic American Tanker

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 Tanker (NYSE:NAT)

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