Nordic American Tankers (NYSE:NAT) Hits New 1-Year Low – What’s Next?

Shares of Nordic American Tankers Limited (NYSE:NAT) hit a new 52-week low on Tuesday . The company traded as low as $3.06 and last traded at $3.07, with a volume of 525260 shares changing hands. The stock had previously closed at $3.10.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 price target on shares of Nordic American Tankers in a research note on Thursday, September 12th. Finally, 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 Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The stock has a fifty day simple moving average of $3.53 and a two-hundred day simple moving average of $3.76. The stock has a market capitalization of $626.39 million, a price-to-earnings ratio of 10.34 and a beta of -0.21.

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

Nordic American Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a yield of 16.00%. Nordic American Tankers’s dividend payout ratio (DPR) is currently 165.52%.

Hedge Funds Weigh In On Nordic American Tankers

Several hedge funds have recently modified their holdings of NAT. Philip James Wealth Mangement LLC bought a new position in shares of Nordic American Tankers during the 3rd quarter worth approximately $4,069,000. TrueMark Investments LLC bought a new position in shares of Nordic American Tankers during the 2nd quarter worth approximately $4,373,000. American Century Companies Inc. raised its holdings in shares of Nordic American Tankers by 40.5% in the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after purchasing an additional 1,009,096 shares during the period. Millennium Management LLC raised its holdings in shares of Nordic American Tankers by 122.8% in the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after purchasing an additional 711,973 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Nordic American Tankers in the 1st quarter worth approximately $2,443,000. Institutional investors own 44.29% of the company’s stock.

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.