Nordic American Tanker (NYSE:NAT) had its target price lowered by Morgan Stanley from $5.00 to $2.50 in a report released on Monday. Morgan Stanley currently has an equal weight rating on the shipping company’s stock.

A number of other research firms have also issued reports on NAT. Maxim Group reiterated a sell rating and set a $3.00 target price (down from $4.00) on shares of Nordic American Tanker in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Nordic American Tanker from a sell rating to a hold rating in a 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 target price on the stock in a report on Thursday, December 14th. Clarkson Capital upgraded shares of Nordic American Tanker from a neutral rating to a buy rating in a report on Friday, January 5th. Finally, Seaport Global Securities set a $3.00 target price on shares of Nordic American Tanker and gave the stock a hold rating in a report on Friday, January 5th. Five research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Nordic American Tanker presently has a consensus rating of Hold and a consensus target price of $3.36.

Nordic American Tanker (NYSE:NAT) opened at $2.15 on Monday. The company has a current ratio of 3.52, a quick ratio of 2.71 and a debt-to-equity ratio of 0.58. Nordic American Tanker has a 1 year low of $1.82 and a 1 year high of $8.68.

Nordic American Tanker (NYSE:NAT) last released its earnings results on Monday, February 12th. The shipping company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). The business had revenue of $36.72 million for the quarter, compared to analyst estimates of $45.46 million. Nordic American Tanker had a negative return on equity of 9.11% and a negative net margin of 48.82%. equities analysts expect that Nordic American Tanker will post -0.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be issued 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 yield of 5.58%. Nordic American Tanker’s dividend payout ratio (DPR) is presently -16.44%.

Several institutional investors and hedge funds have recently made changes to their positions in NAT. Key Square Capital Management LLC acquired a new stake in shares of Nordic American Tanker in the 4th quarter valued at $5,768,000. Northern Trust Corp raised its holdings in shares of Nordic American Tanker by 40.4% in the 2nd quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock valued at $14,536,000 after purchasing an additional 659,827 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Nordic American Tanker in the 4th quarter valued at $987,000. Guggenheim Capital LLC raised its holdings in shares of Nordic American Tanker by 30.0% in the 4th quarter. Guggenheim Capital LLC now owns 1,135,640 shares of the shipping company’s stock valued at $2,792,000 after purchasing an additional 262,039 shares in the last quarter. Finally, Greylin Investment Mangement Inc. raised its holdings in shares of Nordic American Tanker by 40.6% in the 4th quarter. Greylin Investment Mangement Inc. now owns 727,750 shares of the shipping company’s stock valued at $1,790,000 after purchasing an additional 210,225 shares in the last quarter. Institutional investors and hedge funds 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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