The Nordic American Tankers Ltd. (NAT) Receives $12.70 Average PT from Analysts

The Nordic American Tankers Ltd. (NAT) Receives $12.70 Average PT from Analysts

Nordic American Tankers Ltd. (NYSE:NAT) has received a consensus recommendation of “Hold” from the seven analysts that are covering the company. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.70.

Several equities research analysts have issued reports on NAT shares. Vetr raised shares of Nordic American Tankers from a “hold” rating to a “buy” rating and set a $13.78 price target on the stock in a research note on Thursday, July 7th. Morgan Stanley reiterated an “equal weight” rating and set a $9.00 price objective (down from $12.00) on shares of Nordic American Tankers in a report on Friday, August 26th. Zacks Investment Research upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. Clarkson Capital lowered shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $10.00 in a report on Monday, October 3rd. Finally, Jefferies Group reiterated a “sell” rating on shares of Nordic American Tankers in a report on Monday, September 12th.

A number of hedge funds and other institutional investors have recently bought and sold shares of NAT. Vanguard Group Inc. raised its position in Nordic American Tankers by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,314,203 shares of the company’s stock valued at $59,924,000 after buying an additional 149,318 shares during the last quarter. State Street Corp raised its position in Nordic American Tankers by 4.6% in the second quarter. State Street Corp now owns 1,435,967 shares of the company’s stock valued at $19,947,000 after buying an additional 62,919 shares during the last quarter. Allianz Asset Management AG raised its position in Nordic American Tankers by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock valued at $17,002,000 after buying an additional 252,467 shares during the last quarter. Bank of New York Mellon Corp raised its position in Nordic American Tankers by 90.9% in the second quarter. Bank of New York Mellon Corp now owns 1,158,340 shares of the company’s stock valued at $16,090,000 after buying an additional 551,470 shares during the last quarter. Finally, UBS Group AG raised its position in Nordic American Tankers by 17.5% in the first quarter. UBS Group AG now owns 759,057 shares of the company’s stock valued at $10,695,000 after buying an additional 112,961 shares during the last quarter. Hedge funds and other institutional investors own 29.31% of the company’s stock.

Nordic American Tankers (NYSE:NAT) opened at 9.10 on Tuesday. Nordic American Tankers has a 12-month low of $8.94 and a 12-month high of $16.68. The firm’s 50-day moving average is $10.23 and its 200 day moving average is $13.00. The firm has a market cap of $812.80 million, a PE ratio of 8.27 and a beta of 1.05.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same quarter in the previous year, the company posted $0.35 EPS. Equities research analysts predict that Nordic American Tankers will post $0.64 EPS for the current year.

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