Zacks Investment Research Lowers Nordic American Tanker (NAT) to Sell

Sunday, 14 Jan, 2018

Shares of Nordic American Tanker Shipping Ltd (NYSE:NAT) now have an Average Brokerage Recommendation of 3.29, number of Recs in ABR is 7 while industry rank of the company by ABR is 230 out of 265. For the past 5 years, the company's revenue has grown 30.4%, while the company's earnings per share has grown 49.9%. At one point in the past year, the shares traded as low as $0.95 but has recovered 77.37% since then. Analysts are turning out to be more pessimistic than before, with 1 of analysts who cover Nordic American Tankers Limited (NYSE:NAT) advice adding it to buy candidate list. Morgan Stanley cut their price target on Nordic American Tanker from $6.50 to $5.00 and set an equal weight rating on the stock in a report on Wednesday, November 8th. Nordic American Tanker Shipping Ltd (NYSE:NAT)'s price sits -25.8% off from its SMA 50 of $3.17 and -52.35% away from the SMA 200 which is at $4.76. Analysts reported that the Price Target for Nordic American Tankers Limited might touch $5 high while the Average Price Target and Low price Target is $3.74 and $2 respectively. The stock of Nordic American Tankers Limited (NYSE:NAT) earned "Sell" rating by Maxim Group on Thursday, December 14. The Volatility 3m is a similar percentage determined by the daily log normal returns and standard deviation of the share price over 3 months. During previous trade 1.56 Million shares of Nordic American Tanker Shipping Ltd (NYSE:NAT) exchanged hands whereas on average nearly 1.92 Million shares has been traded.

Nordic American Tanker (NYSE:NAT) opened at $2.50 on Wednesday. The company has a market cap of $354.94 Million.

Analysts are expecting average earnings estimates of $-0.15 for the current quarter based on the opinion of 7 analysts, relating to high earnings per share estimates of $-0.06 and low estimates of $-0.26, however Nordic American Tanker Shipping Ltd (NYSE:NAT) reported $-0.02 earnings per share for the same quarter a year ago. For the next fiscal year, analysts forecast that the business will report sales of $235.90 million per share, with estimates ranging from $179.91 million to $277.47 million. Nordic American Tanker Shipping Ltd (NYSE:NAT) has trailing twelve month Return on Assets of -7.1%, which is key indicator of how profitable a company is relative to its total assets. Tocqueville Asset Management L.P. acquired a new stake in Nordic American Tanker in the third quarter valued at approximately $887,000.

The stock now shows its YTD (Year to Date) performance of 2.44 percent, whereas its Weekly performance stands at -1.95%. However the six-month change in the insider ownership was recorded 0%, as well as three-month change in the institutional ownership was recorded 0.06%.

A number of research firms recently issued reports on NAT.

Bridges Investment Management Inc increased its stake in Ameriprise Financial Inc Com (AMP) by 44.38% based on its latest 2017Q3 regulatory filing with the SEC. Geode Capital Management LLC now owns 164,637 shares of the shipping company's stock worth $1,346,000 after acquiring an additional 18,321 shares during the period. Nordic American Tanker earned a daily sentiment score of 0.12 on Accern's scale. Schwab Charles Investment Management Inc. now owns 207,086 shares of the company's stock valued at $2,877,000 after buying an additional 564 shares during the last quarter. Aperio Group LLC increased its holdings in Nordic American Tanker by 55.2% in the second quarter. Rhumbline Advisers now owns 119,174 shares of the shipping company's stock valued at $756,000 after buying an additional 4,375 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Nordic American Tankers Limited by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 343,384 shares of the shipping company's stock worth $2,176,000 after purchasing an additional 2,019 shares in the last quarter. Creative Planning now owns 15,956 shares of the company's stock valued at $161,000 after buying an additional 1,172 shares during the last quarter.

Several large investors have recently modified their holdings of the company. The rating was maintained by RBC Capital Markets with "Hold" on Monday, November 13.