Brokerages expect Nordic American Tankers Limited (NYSE:NAT – Get Rating) to report sales of $21.84 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Nordic American Tankers’ earnings, with estimates ranging from $20.30 million to $23.37 million. Nordic American Tankers posted sales of $18.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The business is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Nordic American Tankers will report full year sales of $143.75 million for the current year, with estimates ranging from $142.95 million to $144.21 million. For the next financial year, analysts expect that the company will post sales of $188.16 million, with estimates ranging from $185.22 million to $191.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Nordic American Tankers.
Nordic American Tankers (NYSE:NAT – Get Rating) last announced its earnings results on Friday, February 25th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The business had revenue of $22.63 million during the quarter, compared to analyst estimates of $26.78 million. Nordic American Tankers had a negative return on equity of 19.85% and a negative net margin of 176.94%. During the same quarter in the previous year, the business earned ($0.19) earnings per share.
A number of analysts recently issued reports on NAT shares. Jefferies Financial Group started coverage on Nordic American Tankers in a report on Wednesday. They issued a “hold” rating and a $2.50 price target for the company. Zacks Investment Research upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Nordic American Tankers has an average rating of “Hold” and an average price target of $3.42.
Shares of NYSE NAT opened at $2.56 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.28 and a current ratio of 1.59. The firm has a market capitalization of $495.26 million, a price-to-earnings ratio of -3.51 and a beta of 0.21. The stock has a 50 day moving average price of $2.26 and a 200 day moving average price of $2.02. Nordic American Tankers has a 52-week low of $1.40 and a 52-week high of $3.81.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 30th. Stockholders of record on Friday, March 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, March 10th. Nordic American Tankers’s payout ratio is presently -5.48%.
Several hedge funds have recently modified their holdings of NAT. Morgan Stanley increased its position in shares of Nordic American Tankers by 0.7% during the second quarter. Morgan Stanley now owns 4,821,958 shares of the shipping company’s stock worth $15,817,000 after purchasing an additional 34,845 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Nordic American Tankers by 22.8% during the third quarter. Commonwealth Equity Services LLC now owns 391,901 shares of the shipping company’s stock valued at $1,003,000 after buying an additional 72,764 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Nordic American Tankers by 486.2% during the third quarter. SG Americas Securities LLC now owns 91,311 shares of the shipping company’s stock valued at $234,000 after buying an additional 75,734 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Nordic American Tankers during the third quarter valued at $610,000. Finally, Dubuque Bank & Trust Co. grew its holdings in shares of Nordic American Tankers by 69.3% during the third quarter. Dubuque Bank & Trust Co. now owns 85,500 shares of the shipping company’s stock valued at $219,000 after buying an additional 35,000 shares during the last quarter. 28.96% of the stock is currently owned by institutional investors and hedge funds.
Nordic American Tankers Company Profile (Get Rating)
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.
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