-$0.05 EPS Expected for Nordic American Tanker Ltd (NAT) This Quarter

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Brokerages expect that Nordic American Tanker Ltd (NYSE:NAT) will post earnings of ($0.05) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Nordic American Tanker’s earnings, with the lowest EPS estimate coming in at ($0.10) and the highest estimate coming in at $0.03. Nordic American Tanker posted earnings of ($0.20) per share during the same quarter last year, which would indicate a positive year over year growth rate of 75%. The firm is expected to issue its next earnings report on Monday, February 11th.

Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Nordic American Tanker.

Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings results on Tuesday, August 14th. The shipping company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.02). The business had revenue of $27.01 million for the quarter, compared to the consensus estimate of $28.57 million. Nordic American Tanker had a negative return on equity of 13.97% and a negative net margin of 87.25%.

A number of equities research analysts recently weighed in on NAT shares. Zacks Investment Research downgraded shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. BTIG Research started coverage on shares of Nordic American Tanker in a research note on Thursday, September 27th. They set a “neutral” rating for the company. ValuEngine downgraded shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Morgan Stanley boosted their price target on shares of Nordic American Tanker from $2.25 to $2.50 and gave the stock a “$2.37” rating in a research note on Wednesday, July 18th. Finally, Maxim Group reissued a “sell” rating and set a $1.00 price target on shares of Nordic American Tanker in a research note on Tuesday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Nordic American Tanker presently has a consensus rating of “Hold” and an average target price of $2.68.

Shares of NAT traded down $0.10 on Tuesday, reaching $2.86. 1,519,771 shares of the company’s stock were exchanged, compared to its average volume of 1,315,427. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.91 and a quick ratio of 2.53. The company has a market cap of $479.86 million, a price-to-earnings ratio of -4.03 and a beta of -0.12. Nordic American Tanker has a 12 month low of $1.82 and a 12 month high of $4.24.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.40 dividend on an annualized basis and a yield of 13.99%. This is a boost from Nordic American Tanker’s previous quarterly dividend of $0.02. Nordic American Tanker’s payout ratio is currently -11.27%.

A number of hedge funds and other institutional investors have recently modified their holdings of NAT. BlackRock Inc. grew its holdings in Nordic American Tanker by 43.6% during the first quarter. BlackRock Inc. now owns 6,513,209 shares of the shipping company’s stock valued at $12,635,000 after purchasing an additional 1,977,177 shares during the period. Bienville Capital Management LLC acquired a new position in Nordic American Tanker during the second quarter valued at approximately $1,512,000. Schwab Charles Investment Management Inc. grew its holdings in Nordic American Tanker by 40.5% during 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 period. Guggenheim Capital LLC grew its holdings in Nordic American Tanker by 33.9% during 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 period. Finally, Wells Fargo & Company MN grew its holdings in Nordic American Tanker by 74.8% during the first quarter. Wells Fargo & Company MN now owns 794,977 shares of the shipping company’s stock valued at $1,542,000 after purchasing an additional 340,098 shares during the period. Hedge funds and other institutional investors own 24.95% 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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Earnings History and Estimates for Nordic American Tanker (NYSE:NAT)

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