Equities research analysts expect Nordic American Tanker Ltd (NYSE:NAT) to announce earnings of $0.02 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Nordic American Tanker’s earnings. The highest EPS estimate is $0.13 and the lowest is ($0.10). Nordic American Tanker reported earnings of ($0.13) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 115.4%. The business is expected to announce its next quarterly earnings report on Wednesday, May 15th.
Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Nordic American Tanker.
Get Nordic American Tanker alerts:Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Tuesday, February 19th. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The company had revenue of $44.19 million during the quarter, compared to analyst estimates of $48.97 million. Nordic American Tanker had a negative net margin of 76.09% and a negative return on equity of 10.80%.
NAT has been the subject of several analyst reports. Zacks Investment Research raised Nordic American Tanker from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a report on Friday, January 4th. ValuEngine raised Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Seaport Global Securities set a $3.00 price objective on Nordic American Tanker and gave the company a “hold” rating in a report on Monday, November 12th. Maxim Group set a $1.00 price objective on Nordic American Tanker and gave the company a “sell” rating in a report on Wednesday, February 20th. Finally, B. Riley initiated coverage on Nordic American Tanker in a report on Friday, November 9th. They issued a “buy” rating and a $4.25 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Nordic American Tanker presently has a consensus rating of “Hold” and an average price target of $2.60.
Shares of NAT stock traded down $0.07 on Friday, hitting $2.04. The company had a trading volume of 1,460,156 shares, compared to its average volume of 1,344,646. The stock has a market cap of $299.56 million, a PE ratio of -3.34 and a beta of 0.51. The company has a quick ratio of 3.50, a current ratio of 4.29 and a debt-to-equity ratio of 0.67. Nordic American Tanker has a twelve month low of $1.81 and a twelve month high of $3.47.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a $0.04 dividend. The ex-dividend date is Thursday, February 28th. This represents a $0.16 dividend on an annualized basis and a yield of 7.84%. Nordic American Tanker’s payout ratio is -6.56%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Nordic American Tanker in the 2nd quarter worth about $142,000. Raymond James & Associates raised its holdings in Nordic American Tanker by 89.3% in the 2nd quarter. Raymond James & Associates now owns 52,165 shares of the shipping company’s stock worth $140,000 after purchasing an additional 24,603 shares during the period. Greylin Investment Mangement Inc. raised its holdings in Nordic American Tanker by 6.9% in the 4th quarter. Greylin Investment Mangement Inc. now owns 1,839,920 shares of the shipping company’s stock worth $3,680,000 after purchasing an additional 118,975 shares during the period. BlackRock Inc. raised its holdings in Nordic American Tanker by 1.6% in the 3rd quarter. BlackRock Inc. now owns 7,232,489 shares of the shipping company’s stock worth $15,116,000 after purchasing an additional 112,110 shares during the period. Finally, WealthTrust Axiom LLC raised its holdings in Nordic American Tanker by 3.8% in the 4th quarter. WealthTrust Axiom LLC now owns 986,176 shares of the shipping company’s stock worth $1,972,000 after purchasing an additional 35,858 shares during the period. 25.02% of the stock is owned by institutional investors.
About Nordic American Tanker
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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