Brokerages Anticipate Nordic American Tanker Ltd (NAT) to Announce -$0.14 EPS

Equities research analysts forecast that Nordic American Tanker Ltd (NYSE:NAT) will report earnings of ($0.14) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Nordic American Tanker’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.16). Nordic American Tanker posted earnings of ($0.16) per share during the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The firm is expected to announce its next quarterly earnings report on Monday, December 17th.

Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Nordic American Tanker.

Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings data on Wednesday, May 16th. The shipping company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The business had revenue of $29.62 million during the quarter, compared to analyst estimates of $31.25 million. Nordic American Tanker had a negative net margin of 70.33% and a negative return on equity of 12.23%.



A number of research firms have recently weighed in on NAT. Morgan Stanley boosted their price objective on shares of Nordic American Tanker from $2.25 to $2.50 and gave the company a “$2.37” rating in a research report on Wednesday, July 18th. Zacks Investment Research lowered shares of Nordic American Tanker from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, ValuEngine raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $2.38.

Shares of Nordic American Tanker traded down $0.17, reaching $2.36, during trading on Friday, MarketBeat reports. The stock had a trading volume of 755,119 shares, compared to its average volume of 992,581. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.97 and a quick ratio of 3.82. Nordic American Tanker has a fifty-two week low of $1.82 and a fifty-two week high of $5.84.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Wednesday, August 22nd will be given a dividend of $0.02 per share. This is a positive change from Nordic American Tanker’s previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, August 21st. This represents a $0.08 annualized dividend and a yield of 3.39%. Nordic American Tanker’s dividend payout ratio is -5.63%.

A number of hedge funds have recently modified their holdings of NAT. Rhumbline Advisers boosted its stake in shares of Nordic American Tanker by 21.8% in the second quarter. Rhumbline Advisers now owns 135,529 shares of the shipping company’s stock valued at $363,000 after purchasing an additional 24,273 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Nordic American Tanker by 34.7% in the first quarter. The Manufacturers Life Insurance Company now owns 108,757 shares of the shipping company’s stock valued at $211,000 after purchasing an additional 28,033 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Nordic American Tanker by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 419,897 shares of the shipping company’s stock valued at $1,125,000 after purchasing an additional 43,480 shares during the period. California State Teachers Retirement System boosted its stake in shares of Nordic American Tanker by 34.5% in the first quarter. California State Teachers Retirement System now owns 212,072 shares of the shipping company’s stock valued at $411,000 after purchasing an additional 54,411 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Nordic American Tanker by 57.1% in the first quarter. New York State Common Retirement Fund now owns 150,700 shares of the shipping company’s stock valued at $292,000 after purchasing an additional 54,800 shares during the period. 24.46% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Nordic American Tanker (NYSE:NAT)

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