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UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Nordic American Tanker Shipping Ltd.

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Earnings Scheduled For February 9, 2015
Can The Rally In Nordic American Tanker Shares Continue?

In a report published Friday, Jefferies & Company reiterated its Hold rating on Nordic American Tanker Shipping Ltd. (NYSE: NAT), but slightly lowered its price target from $9.00 to $8.00.

Jefferies noted, “This morning, NAT announced that it would be paying a cash dividend of $0.16 per share on 4Q12 results which represents a significant decrease from the $0.30 per share dividend the Company had been paying out since early 2011. While the cut was inevitable in our view, the reduction will still likely remove a leg of support for NAT shares in our view.”

Nordic American Tanker Shipping Ltd. closed on Thursday at $8.88.

Latest Ratings for NAT

DateFirmActionFromTo
Apr 2015JefferiesMaintainsHold
Jan 2015Global HunterInitiates Coverage onBuy
Sep 2014Clarkson CapitalInitiates Coverage onBuy

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Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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