Nordic American Tankers (NYSE:NAT) Sets New 1-Year High – Should You Buy?

Shares of Nordic American Tankers Limited (NYSE:NAT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $4.93 and last traded at $4.8850, with a volume of 7570 shares changing hands. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NAT shares. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Jefferies Financial Group restated a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Finally, Evercore upped their price objective on 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. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Price Performance

The stock has a market capitalization of $1.03 billion, a P/E ratio of 243.87 and a beta of -0.44. The company’s 50 day simple moving average is $3.96 and its two-hundred day simple moving average is $3.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.95 and a quick ratio of 1.64.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $40.18 million during the quarter, compared to analyst estimates of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. As a group, equities analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, December 8th. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a dividend yield of 10.7%. Nordic American Tankers’s dividend payout ratio (DPR) is currently 2,600.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NAT. Savant Capital LLC bought a new stake in Nordic American Tankers during the 2nd quarter worth about $28,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nordic American Tankers during the third quarter worth approximately $32,000. BlueStem Wealth Partners LLC acquired a new position in shares of Nordic American Tankers during the third quarter worth approximately $32,000. HBK Sorce Advisory LLC bought a new stake in shares of Nordic American Tankers during the third quarter valued at approximately $33,000. Finally, Torren Management LLC acquired a new stake in shares of Nordic American Tankers in the fourth quarter valued at approximately $34,000. 44.29% of the stock is owned by institutional investors.

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.