Wall Street brokerages forecast that Nordic American Tanker Ltd (NYSE:NAT) will report earnings of $0.19 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Nordic American Tanker’s earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.20. Nordic American Tanker reported earnings per share of ($0.05) during the same quarter last year, which would suggest a positive year-over-year growth rate of 480%. The company is expected to issue its next quarterly earnings report on Tuesday, February 18th.
Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Monday, November 25th. The shipping company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $32.35 million for the quarter, compared to analyst estimates of $45.03 million. Nordic American Tanker had a negative return on equity of 5.14% and a negative net margin of 20.86%.
Several research firms have issued reports on NAT. TheStreet raised Nordic American Tanker from a “d+” rating to a “c-” rating in a research note on Monday, October 21st. B. Riley set a $5.00 price objective on Nordic American Tanker and gave the stock a “buy” rating in a research report on Friday, August 16th. Zacks Investment Research upgraded Nordic American Tanker from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Thursday, November 28th. BTIG Research raised Nordic American Tanker from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, October 7th. Finally, ValuEngine lowered Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $3.50.
NAT stock traded up $0.30 during trading hours on Friday, reaching $4.00. 4,355,398 shares of the stock were exchanged, compared to its average volume of 1,804,718. The firm’s 50-day moving average is $3.66 and its 200-day moving average is $2.57. The company has a market cap of $567.88 million, a price-to-earnings ratio of -6.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.18 and a quick ratio of 1.83. Nordic American Tanker has a 12 month low of $1.66 and a 12 month high of $4.47.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Wednesday, December 4th. Nordic American Tanker’s dividend payout ratio is presently -13.11%.
A number of institutional investors and hedge funds have recently made changes to their positions in NAT. Moors & Cabot Inc. lifted its position in Nordic American Tanker by 3.4% during the 3rd quarter. Moors & Cabot Inc. now owns 77,093 shares of the shipping company’s stock worth $165,000 after buying an additional 2,524 shares in the last quarter. AE Wealth Management LLC raised its holdings in Nordic American Tanker by 18.6% during the second quarter. AE Wealth Management LLC now owns 30,019 shares of the shipping company’s stock worth $70,000 after acquiring an additional 4,703 shares in the last quarter. Man Group plc boosted its position in Nordic American Tanker by 54.7% during the third quarter. Man Group plc now owns 16,400 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 5,800 shares during the last quarter. Paloma Partners Management Co acquired a new position in Nordic American Tanker during the second quarter valued at approximately $25,000. Finally, Chicago Equity Partners LLC acquired a new position in Nordic American Tanker during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 24.41% of the company’s stock.
Nordic American Tanker Company Profile
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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