According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
A number of other research analysts have also commented on NAT. B. Riley reissued a “buy” rating and set a $4.75 price objective on shares of Nordic American Tanker in a report on Monday, December 16th. ValuEngine lowered Nordic American Tanker from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.75.
Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.08). Nordic American Tanker had a negative return on equity of 1.77% and a negative net margin of 5.90%. The firm had revenue of $58.82 million for the quarter, compared to analysts’ expectations of $72.97 million. Research analysts expect that Nordic American Tanker will post 0.65 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new stake in Nordic American Tanker in the 4th quarter valued at approximately $6,033,000. Geode Capital Management LLC grew its holdings in Nordic American Tanker by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 1,230,503 shares of the shipping company’s stock valued at $6,053,000 after buying an additional 173,264 shares during the last quarter. Man Group plc grew its holdings in Nordic American Tanker by 4,193.3% in the 4th quarter. Man Group plc now owns 704,108 shares of the shipping company’s stock valued at $3,464,000 after buying an additional 687,708 shares during the last quarter. Caxton Associates LP acquired a new stake in Nordic American Tanker in the 4th quarter valued at approximately $279,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Nordic American Tanker in the 4th quarter valued at approximately $126,000. 37.09% of the stock is currently owned by hedge funds and other institutional investors.
Nordic American Tanker Company Profile
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
Read More: What is the Dividend Aristocrat Index?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nordic American Tanker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tanker and related companies with MarketBeat.com's FREE daily email newsletter.