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

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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 2017Evercore ISI GroupDowngradesIn-LineUnderperform
Jan 2017Credit SuisseInitiates Coverage OnNeutral
Dec 2016Maxim GroupInitiates Coverage OnSell

View More Analyst Ratings for NAT
View the Latest Analyst Ratings

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

 

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