Nordic American Tanker (NAT) Releases Earnings Results

Nordic American Tanker (NYSE:NAT) issued its quarterly earnings results on Tuesday. The shipping company reported $0.04 EPS for the quarter, Fidelity Earnings reports. Nordic American Tanker had a negative return on equity of 11.00% and a negative net margin of 76.09%. The company had revenue of $53.63 million during the quarter, compared to analyst estimates of $49.84 million.

Shares of NAT stock traded up $0.03 during trading hours on Wednesday, reaching $2.23. 118,342 shares of the company’s stock were exchanged, compared to its average volume of 750,609. The firm has a market cap of $299.56 million, a PE ratio of -3.66 and a beta of 0.58. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.69. Nordic American Tanker has a fifty-two week low of $1.81 and a fifty-two week high of $3.47.

An institutional investor recently raised its position in Nordic American Tanker stock. Geode Capital Management LLC increased its position in shares of Nordic American Tanker Ltd (NYSE:NAT) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 490,347 shares of the shipping company’s stock after purchasing an additional 76,914 shares during the period. Geode Capital Management LLC owned about 0.35% of Nordic American Tanker worth $980,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 26.44% of the company’s stock.

A number of brokerages have recently commented on NAT. Zacks Investment Research lowered Nordic American Tanker from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Maxim Group set a $1.00 price target on Nordic American Tanker and gave the stock a “sell” rating in a report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.60.

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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.

Further Reading: Mutual Funds

Earnings History for Nordic American Tanker (NYSE:NAT)

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