Nordic American Tanker Ltd (NAT) is Downgraded by Jefferies to Underperform

Nordic American Tanker Ltd (NAT) was Downgraded by Jefferies to ” Underperform”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on May 10, 2016.

On the company’s financial health, Nordic American Tanker Ltd reported $0.33 EPS for the quarter, based on the information available during the earnings call on May 9, 2016. Analyst had a consensus estimate of $0.33.Analysts expectations of $ 74.98.During the same quarter in the previous year, the company posted $0.34 EPS.

Nordic American Tanker Ltd opened for trading at $15.25 and hit $15.32 on the upside on Friday, eventually ending the session at $15.28, with a gain of 0.33% or 0.05 points. The heightened volatility saw the trading volume jump to 12,72,789 shares. Company has a market cap of $1,363 M.

Nordic American Tankers Limited (NAT) is an international tanker company. The Company owns approximately 24 Suezmax crude oil tankers two of which are newbuildings averaging approximately 156000 deadweight tonnage (dwt) each. The Company’s subsidiaries include Scandic American Shipping Ltd. (Scandic) and Orion Tankers Ltd (Orion). The Company’s Suezmax tankers are interchangeable assets within the Orion Tankers pool. NAT’s vessels include Nordic Harrier Nordic Hawk Nordic Hunter Nordic Voyager Nordic Fighter Nordic Freedom Nordic Discovery Nordic Saturn Nordic Jupiter Nordic Moon Nordic Apollo Nordic Vega Nordic Breeze Nordic Aurora Nordic Zenith and Nordic Sprinter. The Company’s vessels were built in the yards of various companies such as Samsung Heavy Industries Co. Ltd Hyundai Heavy Industries Co. Ltd. Daewoo Shipbuilding and Marine Engineering S.A. Dalian Shipbuilding Industry Co. Ltd. and Bohai Shipbuilding Heavy Industry Co. Ltd.

Nordic American Tanker Ltd

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