Nordic American Tankers (NYSE:NAT) Hits New 12-Month High - Still a Buy?

Key Points

• Nordic American Tankers reached a new 52-week high of $6.73, trading near $6.59, well above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $4.00, despite one firm maintaining a “Buy” rating.
• The company reported quarterly EPS of $0.17, slightly above estimates, and raised its quarterly dividend to $0.22, representing an annualized yield of approximately 13.3%; however, its payout ratio is an elevated 325.93%.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.73 and last traded at $6.5880, with a volume of 208038 shares. The stock had previously closed at $6.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of Nordic American Tankers from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. Evercore lowered shares of Nordic American Tankers from an "in-line" rating to an "underperform" rating and set a $4.50 price objective on the stock. in a report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $4.00.

Nordic American Tankers Stock Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 3.00 and a quick ratio of 2.75. The company has a fifty day moving average price of $5.82 and a 200 day moving average price of $5.41. The stock has a market cap of $1.40 billion, a P/E ratio of 24.50 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The company had revenue of $77.51 million for the quarter, compared to analysts' expectations of $81.86 million. On average, equities analysts expect that Nordic American Tankers Limited will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.3%. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. Nordic American Tankers's payout ratio is 325.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new stake in shares of Nordic American Tankers in the 2nd quarter worth about $32,000. Torren Management LLC bought a new stake in Nordic American Tankers during the 4th quarter worth approximately $34,000. ROI Financial Advisors LLC bought a new stake in Nordic American Tankers during the 4th quarter worth approximately $36,000. Parkside Financial Bank & Trust increased its holdings in Nordic American Tankers by 2,800.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company's stock worth $37,000 after purchasing an additional 10,500 shares in the last quarter. Finally, Stokes Family Office LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter worth approximately $37,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.

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