Nordic American Tankers (NYSE:NAT) Downgraded by StockNews.com to "Sell"

StockNews.com downgraded shares of Nordic American Tankers (NYSE:NAT - Free Report) from a hold rating to a sell rating in a research note published on Monday.

Separately, Jefferies Financial Group reissued a "hold" rating and issued a $3.00 price target on shares of Nordic American Tankers in a report on Friday, February 28th.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock traded up $0.01 during trading hours on Monday, reaching $2.55. The company had a trading volume of 241,415 shares, compared to its average volume of 2,458,830. The firm has a market cap of $531.39 million, a PE ratio of 8.78 and a beta of -0.33. Nordic American Tankers has a one year low of $2.39 and a one year high of $4.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The business has a fifty day simple moving average of $2.63 and a 200 day simple moving average of $2.95.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The company had revenue of $46.39 million for the quarter, compared to analysts' expectations of $51.38 million. On average, analysts anticipate that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

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Nordic American Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.43%. The ex-dividend date was Monday, March 10th. Nordic American Tankers's payout ratio is 109.09%.

Institutional Investors Weigh In On Nordic American Tankers

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in Nordic American Tankers by 135.1% during the third quarter. Victory Capital Management Inc. now owns 58,309 shares of the shipping company's stock valued at $214,000 after acquiring an additional 33,507 shares during the last quarter. Intech Investment Management LLC bought a new stake in Nordic American Tankers in the third quarter worth $237,000. Charles Schwab Investment Management Inc. boosted its position in Nordic American Tankers by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company's stock valued at $1,796,000 after buying an additional 7,382 shares during the period. Raymond James Trust N.A. bought a new position in shares of Nordic American Tankers during the third quarter valued at about $37,000. Finally, Quantbot Technologies LP increased its holdings in shares of Nordic American Tankers by 198.9% in the third quarter. Quantbot Technologies LP now owns 207,008 shares of the shipping company's stock worth $760,000 after buying an additional 137,745 shares during the period. Institutional investors own 44.29% of the company's stock.

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.