Nordic American Tankers Limited Forecasted to Post Q3 2017 Earnings of ($0.26) Per Share (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT) – Seaport Global Securities lowered their Q3 2017 EPS estimates for Nordic American Tankers Limited in a research report issued on Monday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will earn ($0.26) per share for the quarter, down from their previous forecast of ($0.08). Seaport Global Securities also issued estimates for Nordic American Tankers Limited’s FY2017 earnings at ($0.43) EPS.

Nordic American Tankers Limited (NYSE:NAT) last posted its earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.03. The business had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $42.47 million. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. Nordic American Tankers Limited’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. ILLEGAL ACTIVITY WARNING: “Nordic American Tankers Limited Forecasted to Post Q3 2017 Earnings of ($0.26) Per Share (NYSE:NAT)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.com-unik.info/2017/08/19/nordic-american-tankers-limited-forecasted-to-post-q3-2017-earnings-of-0-26-per-share-nysenat-updated.html.

A number of other research analysts also recently commented on NAT. Zacks Investment Research downgraded Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a report on Saturday. Maxim Group set a $4.00 target price on Nordic American Tankers Limited and gave the stock a “sell” rating in a report on Monday. Jefferies Group LLC reaffirmed a “sell” rating and set a $5.00 target price on shares of Nordic American Tankers Limited in a report on Monday, July 17th. BidaskClub downgraded Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Evercore ISI downgraded Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $6.00 to $5.00 in a report on Friday, July 21st. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. Nordic American Tankers Limited presently has an average rating of “Hold” and a consensus target price of $6.93.

Shares of Nordic American Tankers Limited (NYSE NAT) opened at 5.50 on Wednesday. The stock’s market cap is $560.83 million. The company’s 50-day moving average price is $6.08 and its 200 day moving average price is $7.36. Nordic American Tankers Limited has a 1-year low of $5.47 and a 1-year high of $12.52.

Several hedge funds have recently made changes to their positions in NAT. IFP Advisors Inc increased its stake in shares of Nordic American Tankers Limited by 0.3% in the first quarter. IFP Advisors Inc now owns 23,286 shares of the shipping company’s stock valued at $190,000 after buying an additional 73 shares during the period. Nationwide Fund Advisors increased its stake in shares of Nordic American Tankers Limited by 0.8% in the first quarter. Nationwide Fund Advisors now owns 58,327 shares of the shipping company’s stock valued at $477,000 after buying an additional 469 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of Nordic American Tankers Limited by 4.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,507 shares of the shipping company’s stock valued at $192,000 after buying an additional 1,000 shares during the period. Legal & General Group Plc increased its stake in shares of Nordic American Tankers Limited by 5.6% in the first quarter. Legal & General Group Plc now owns 34,598 shares of the shipping company’s stock valued at $283,000 after buying an additional 1,835 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Nordic American Tankers Limited by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 343,384 shares of the shipping company’s stock valued at $2,176,000 after buying an additional 2,019 shares during the period. 27.02% of the stock is currently owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 10.91%. The ex-dividend date of this dividend is Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio (DPR) is 4,000.00%.

Nordic American Tankers Limited 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.

Earnings History and Estimates for Nordic American Tankers Limited (NYSE:NAT)

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