Nordic American Tankers' Price Target Rises 50% to $7.50 After Strong Q4
B. Riley analyst Liam Burke raised Nordic American Tankers' price target to $7.50 from $5 after Q4 net income of $11.7M and a 25% jump in average TCE rates to $35,000 per day. The company declared a $0.17 dividend and fixed two-thirds of Q1 days at $55,000 daily.
1. Analyst Raises Price Target
B. Riley analyst Liam Burke boosted Nordic American Tankers' price target to $7.50 from $5 while maintaining a Buy rating. The increase reflects confidence in improving tanker rate outlook following the company's robust Q4 results.
2. Q4 Financial Highlights
In Q4, Nordic American Tankers reported net income of $11.7 million and EBITDA of $34.7 million. The fleet achieved an average time charter equivalent rate of $35,000 per day, up 25% quarter-over-quarter, with operating costs around $9,000 daily.
3. Dividend and Forward Bookings
The company declared a $0.17 quarterly dividend, marking its 114th consecutive cash payout. Management has fixed nearly two-thirds of its Q1 2026 spot days at an average rate of $55,000 per day, with some bookings extending into Q2.
4. Fleet Strategy and Cash Position
Nordic American Tankers ended Q4 with over $100 million in cash. During 2025 it acquired two 2016-built Suezmax tankers and agreed to build two new vessels for 2028 delivery, while selling five older ships to capitalize on rising asset values.