Nordic American Tankers (NYSE:NAT) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Nordic American Tankers (NYSE:NAT) from a hold rating to a sell rating in a report released on Thursday morning.

NAT has been the topic of several other research reports. Jefferies Financial Group reissued a “hold” rating and issued a $4.00 target price on shares of Nordic American Tankers in a report on Thursday, September 12th. Evercore ISI decreased their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th.

Nordic American Tankers Price Performance

Nordic American Tankers stock traded down $0.04 during mid-day trading on Thursday, hitting $3.02. The stock had a trading volume of 699,442 shares, compared to its average volume of 2,507,174. Nordic American Tankers has a one year low of $2.95 and a one year high of $4.64. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $630.58 million, a P/E ratio of 10.55 and a beta of -0.21. The firm’s 50 day moving average is $3.50 and its 200 day moving average is $3.75.

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

Nordic American Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.12 per share. The ex-dividend date 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NAT. Headlands Technologies LLC bought a new position in Nordic American Tankers during the second quarter valued at $25,000. Raymond James Trust N.A. purchased a new position in Nordic American Tankers in the third quarter worth about $37,000. B. Riley Wealth Advisors Inc. bought a new stake in Nordic American Tankers during the first quarter worth approximately $45,000. Bluefin Capital Management LLC bought a new stake in Nordic American Tankers during the second quarter worth approximately $47,000. Finally, SG Americas Securities LLC purchased a new stake in Nordic American Tankers during the first quarter valued at approximately $47,000. 44.29% of the stock is owned by hedge funds and other 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.