Jefferies Sticks to Its Hold Rating for Nordic American Tanker (NAT)
In a report released yesterday, Randy Giveans from Jefferies maintained a Hold rating on Nordic American Tanker (NAT), with a price target of $2.75. The company’s shares closed last Tuesday at $3.17, close to its 52-week low of $2.75.
According to TipRanks.com, Giveans is a 4-star analyst with an average return of 15.6% and a 51.5% success rate. Giveans covers the Industrial Goods sector, focusing on stocks such as ZIM Integrated Shipping Services, Navios Maritime Partners, and International Seaways.
Currently, the analyst consensus on Nordic American Tanker is a Hold with an average price target of $2.83, which is a -12.1% downside from current levels. In a report issued on April 18, Cleaves Securities also upgraded the stock to Hold with a $2.90 price target.
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Based on Nordic American Tanker’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $16.29 million and GAAP net loss of $28.66 million. In comparison, last year the company earned revenue of $95.39 million and had a net profit of $12.73 million.
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Nordic American Tankers Ltd. is an international tanker company, which engages in owning and operating of Suezmax crude oil tankers. The company was founded by Herbjørn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.