Nordic American Tankers (NYSE:NAT) Issues Earnings Results

Nordic American Tankers reported a quarterly EPS of ($0.01), missing analysts' estimates by ($0.02). The company had a return on equity of 2.67% and a net margin of 7.58%. Shares opened at $3.78, with a market cap of $799.78 million. Analysts have mixed ratings, with an average "Hold" rating and a price target of $3.25. Institutional investors hold 44.29% of the stock.

Nordic American Tankers (NYSE:NAT - Get Free Report) posted its quarterly earnings data on Friday. The shipping company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.02), Zacks reports. Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%.

Nordic American Tankers Price Performance

Tankers, Takedowns & Air Taxis: Insiders Are Buying These 3 Names

Shares of NAT stock opened at $3.78 on Friday. The firm's 50 day moving average price is $3.50 and its two-hundred day moving average price is $3.07. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.04 and a current ratio of 2.33. The stock has a market cap of $799.78 million, a PE ratio of 54.21 and a beta of -0.36. Nordic American Tankers has a 52-week low of $2.13 and a 52-week high of $3.93.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen lowered Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Saturday, November 22nd. Jefferies Financial Group reiterated a "hold" rating and set a $3.50 price target on shares of Nordic American Tankers in a research note on Friday. Evercore ISI increased their price objective on shares of Nordic American Tankers from $2.50 to $3.00 and gave the company an "in-line" rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $3.25.

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Get Our Latest Analysis on Nordic American Tankers

Institutional Investors Weigh In On Nordic American Tankers

Several hedge funds have recently bought and sold shares of NAT. Ausdal Financial Partners Inc. bought a new position in Nordic American Tankers during the third quarter worth about $53,000. Focus Partners Wealth raised its position in shares of Nordic American Tankers by 30.5% during the third quarter. Focus Partners Wealth now owns 18,924 shares of the shipping company's stock worth $59,000 after purchasing an additional 4,424 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Nordic American Tankers by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 19,890 shares of the shipping company's stock valued at $52,000 after purchasing an additional 8,114 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Nordic American Tankers during the 3rd quarter valued at about $69,000. Finally, Franklin Resources Inc. grew its position in shares of Nordic American Tankers by 41.2% in the 2nd quarter. Franklin Resources Inc. now owns 23,501 shares of the shipping company's stock valued at $62,000 after purchasing an additional 6,854 shares during the period. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

(Get Free Report)

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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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