UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Nordic American Tanker Shipping Ltd.
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
|Sep 2014||Clarkson Capital||Initiates Coverage on||Buy|
|Aug 2014||Evercore Partners||Upgrades||Underweight||Equal-weight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.