Wall Street analysts predict that Nordic American Tanker Ltd (NYSE:NAT) will post $31.79 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Nordic American Tanker’s earnings, with estimates ranging from $29.77 million to $33.80 million. Nordic American Tanker reported sales of $55.20 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 42.4%. The business is scheduled to report its next earnings results on Monday, May 14th.
On average, analysts expect that Nordic American Tanker will report full year sales of $31.79 million for the current financial year, with estimates ranging from $137.73 million to $225.00 million. For the next fiscal year, analysts expect that the business will post sales of $258.79 million per share, with estimates ranging from $184.77 million to $300.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last released its quarterly earnings data on Monday, February 12th. The shipping company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Nordic American Tanker had a negative net margin of 48.82% and a negative return on equity of 9.11%. The company had revenue of $36.72 million for the quarter, compared to analysts’ expectations of $45.46 million.
A number of hedge funds have recently made changes to their positions in NAT. Principal Financial Group Inc. increased its holdings in Nordic American Tanker by 37.9% during the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Nordic American Tanker during the third quarter valued at approximately $158,000. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in Nordic American Tanker by 157.2% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 67,464 shares of the shipping company’s stock valued at $166,000 after buying an additional 41,232 shares during the last quarter. Jane Street Group LLC increased its holdings in Nordic American Tanker by 433.5% during the fourth quarter. Jane Street Group LLC now owns 83,563 shares of the shipping company’s stock valued at $206,000 after buying an additional 67,899 shares during the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in Nordic American Tanker during the third quarter valued at approximately $241,000. 21.86% of the stock is owned by institutional investors and hedge funds.
Nordic American Tanker (NYSE NAT) traded down $0.02 on Friday, hitting $2.18. 1,249,200 shares of the stock traded hands, compared to its average volume of 1,968,982. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71. Nordic American Tanker has a 1 year low of $1.82 and a 1 year high of $8.68. The stock has a market capitalization of $309.49, a PE ratio of -2.99 and a beta of 0.81.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.12 dividend on an annualized basis and a yield of 5.50%. Nordic American Tanker’s dividend payout ratio is currently -16.44%.
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Nordic American Tanker Company Profile
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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