Wall Street brokerages predict that Nordic American Tanker Ltd (NYSE:NAT) will post sales of $28.57 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Nordic American Tanker’s earnings, with estimates ranging from $26.10 million to $29.90 million. Nordic American Tanker reported sales of $39.10 million during the same quarter last year, which suggests a negative year over year growth rate of 26.9%. The company is expected to issue its next earnings report on Monday, December 17th.
On average, analysts expect that Nordic American Tanker will report full-year sales of $133.17 million for the current financial year, with estimates ranging from $115.67 million to $148.90 million. For the next financial year, analysts forecast that the firm will post sales of $188.91 million per share, with estimates ranging from $136.35 million to $249.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last released its earnings results 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. Nordic American Tanker had a negative return on equity of 12.23% and a negative net margin of 70.33%. The company had revenue of $29.62 million during the quarter, compared to analyst estimates of $31.25 million.
A number of research analysts recently issued reports on NAT shares. ValuEngine upgraded Nordic American Tanker from a “strong sell” rating to a “sell” rating in a report on Thursday, April 19th. Zacks Investment Research downgraded Nordic American Tanker from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Finally, Morgan Stanley reduced their target price on Nordic American Tanker from $2.50 to $2.25 and set an “equal weight” rating on the stock in a report on Wednesday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $2.38.
Shares of Nordic American Tanker traded down $0.17, reaching $2.36, during midday trading on Tuesday, according to MarketBeat.com. The company had a trading volume of 755,119 shares, compared to its average volume of 992,581. Nordic American Tanker has a one year low of $1.82 and a one year high of $5.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.97 and a quick ratio of 3.82.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Wednesday, August 22nd will be given a $0.02 dividend. This is a boost from Nordic American Tanker’s previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, August 21st. Nordic American Tanker’s payout ratio is currently -5.63%.
Institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC boosted its position in shares of Nordic American Tanker by 568.7% in the 1st quarter. MetLife Investment Advisors LLC now owns 67,571 shares of the shipping company’s stock worth $131,000 after purchasing an additional 57,466 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Nordic American Tanker by 433.5% in the 4th quarter. Jane Street Group LLC now owns 83,563 shares of the shipping company’s stock worth $206,000 after purchasing an additional 67,899 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Nordic American Tanker by 34.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 108,757 shares of the shipping company’s stock worth $211,000 after purchasing an additional 28,033 shares in the last quarter. Millennium Management LLC lifted its position in Nordic American Tanker by 257.3% in the 4th quarter. Millennium Management LLC now owns 99,981 shares of the shipping company’s stock valued at $246,000 after acquiring an additional 72,002 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Nordic American Tanker by 57.1% in the 1st quarter. New York State Common Retirement Fund now owns 150,700 shares of the shipping company’s stock valued at $292,000 after acquiring an additional 54,800 shares in the last quarter. 24.46% of the stock is currently owned by hedge funds and other 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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