Market Overview

Morgan Stanley Maintains Confidence in Nordic American Tanker Ltd. Following EPS Report

Share:
Related NAT
15 Stocks Moving In Tuesday's Pre-Market Session
Morgan Stanley Highlights A Cyclical Downturn In Tankers
Don't Buy Nordic American Tankers - Cramer's Lightning Round (9/26/16) (Seeking Alpha)

In a report published Tuesday, Morgan Stanley analyst Fotis Giannakoulis reiterated an Equal-Weight rating on Nordic American Tanker Ltd. (NYSE: NAT).

In the report, Morgan Stanley noted, “The company reported an operating EPS loss of $(0.32) in line with our expected $(0.32) and consensus' $(0.31). Revenue dropped 9% QoQ to $20.4m, which was below our $22.1m estimate and in line with consensus' $20.4m, as daily revenue fell from $12.2kpd to $11.1kpd. EBITDA of $0.6m was short of our $1.3m estimate, but above consensus' $0.5m. NAT will distribute quarterly cash dividend of $0.12/sh down from $0.16/sh in 3Q13, offering a 4.7% yield, as well as $10m of NAO shares equal to a $0.13/sh share dividend, increasing the yield to 9.8%.”

Nordic American Tanker Ltd. closed on Monday at $9.69.

Latest Ratings for NAT

DateFirmActionFromTo
Jul 2016JefferiesMaintainsUnderperform
May 2016JefferiesDowngradesHoldUnderperform
May 2016Seaport GlobalAssumesNeutral

View More Analyst Ratings for NAT
View the Latest Analyst Ratings

Posted-In: Fotis Giannakoulis Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (NAT)

View Comments and Join the Discussion!