Equities analysts expect Nordic American Tanker Ltd (NYSE:NAT) to announce sales of $28.57 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Nordic American Tanker’s earnings, with the lowest sales estimate coming in at $26.10 million and the highest estimate coming in at $29.90 million. Nordic American Tanker posted sales of $39.10 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 26.9%. The business is expected to announce its next earnings report on Monday, December 17th.
According to Zacks, analysts expect that Nordic American Tanker will report full-year sales of $133.17 million for the current fiscal year, with estimates ranging from $115.67 million to $148.90 million. For the next fiscal year, analysts anticipate that the business will report 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 sell-side analysts that follow Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Wednesday, May 16th. The shipping company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $29.62 million for the quarter, compared to analyst estimates of $31.25 million. Nordic American Tanker had a negative return on equity of 12.23% and a negative net margin of 70.33%.
Several brokerages recently weighed in on NAT. Morgan Stanley upped their price objective on Nordic American Tanker from $2.25 to $2.50 and gave the stock a “$2.37” rating in a research report on Wednesday, July 18th. Zacks Investment Research downgraded Nordic American Tanker from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, ValuEngine upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. One equities 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 company currently has an average rating of “Hold” and a consensus price target of $2.38.
Shares of NYSE:NAT traded down $0.17 during trading on Tuesday, reaching $2.36. 755,119 shares of the company traded hands, compared to its average volume of 992,581. The company has a current ratio of 4.97, a quick ratio of 3.82 and a debt-to-equity ratio of 0.56. Nordic American Tanker has a 52 week low of $1.82 and a 52 week high of $5.84.
The firm also recently disclosed 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 an increase from Nordic American Tanker’s previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, August 21st. Nordic American Tanker’s dividend payout ratio is currently -5.63%.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Nordic American Tanker by 9.3% during the 2nd quarter. BlackRock Inc. now owns 7,120,379 shares of the shipping company’s stock worth $19,083,000 after buying an additional 607,170 shares during the last quarter. City Financial Investment Co Ltd bought a new position in Nordic American Tanker in the first quarter valued at about $2,768,000. Greylin Investment Mangement Inc. raised its position in Nordic American Tanker by 16.3% in the second quarter. Greylin Investment Mangement Inc. now owns 1,656,895 shares of the shipping company’s stock valued at $4,440,000 after purchasing an additional 232,599 shares during the last quarter. Guggenheim Capital LLC raised its position in Nordic American Tanker by 33.9% in the first quarter. Guggenheim Capital LLC now owns 1,520,415 shares of the shipping company’s stock valued at $2,950,000 after purchasing an additional 384,775 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Nordic American Tanker by 40.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,491,784 shares of the shipping company’s stock valued at $3,998,000 after purchasing an additional 430,372 shares during the last quarter. Institutional investors and hedge funds own 24.46% of the company’s stock.
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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