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

Key Points

• Nordic American Tankers (NYSE:NAT) reached a new 12-month high of $3.59, closing at $3.55 with significant trading volume of 966,498 shares.
• The company recently increased its quarterly dividend from $0.07 to $0.10 per share, resulting in an annualized dividend yield of 11.3%.
• Despite the stock's recent performance, analysts maintain a consensus rating of "Hold" with a price target of $3.00, indicating cautious sentiment towards future growth.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $3.59 and last traded at $3.55, with a volume of 966498 shares traded. The stock had previously closed at $3.48.

Wall Street Analyst Weigh In

NAT has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. Wall Street Zen lowered Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $3.00.

Nordic American Tankers Trading Up 1.6%

The business's 50 day moving average is $3.16 and its 200 day moving average is $2.83. The stock has a market cap of $748.54 million, a price-to-earnings ratio of 50.50 and a beta of -0.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.33 and a quick ratio of 2.04.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. The company had revenue of $40.15 million for the quarter, compared to analyst estimates of $53.35 million. As a group, equities analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were paid a dividend of $0.10 per share. This is an increase from Nordic American Tankers's previous quarterly dividend of $0.07. The ex-dividend date was Friday, September 12th. This represents a $0.40 annualized dividend and a dividend yield of 11.3%. Nordic American Tankers's dividend payout ratio (DPR) is currently 571.43%.

Institutional Trading of Nordic American Tankers

Several large investors have recently added to or reduced their stakes in NAT. Savant Capital LLC acquired a new position in Nordic American Tankers during the second quarter worth $28,000. HBK Sorce Advisory LLC bought a new position in Nordic American Tankers in the third quarter valued at about $33,000. Red Door Wealth Management LLC bought a new stake in Nordic American Tankers in the first quarter valued at about $39,000. Sequoia Financial Advisors LLC grew its position in shares of Nordic American Tankers by 33.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company's stock valued at $42,000 after purchasing an additional 3,998 shares during the period. Finally, Watts Gwilliam & Co. LLC acquired a new stake in Nordic American Tankers in the first quarter valued at $49,000. 44.29% of the stock is owned by institutional investors and hedge funds.

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.

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