Analysts Anticipate Nordic American Tanker Ltd (NYSE:NAT) to Announce $0.19 Earnings Per Share

Wall Street analysts predict that Nordic American Tanker Ltd (NYSE:NAT) will post earnings per share (EPS) of $0.19 for the current quarter, according to Zacks. Two analysts have issued estimates for Nordic American Tanker’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.20. Nordic American Tanker reported earnings of ($0.05) per share in the same quarter last year, which would indicate a positive year over year growth rate of 480%. The company is scheduled to announce its next earnings results on Tuesday, February 18th.

Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Nordic American Tanker.

Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings results on Monday, November 25th. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The firm had revenue of $32.35 million for the quarter, compared to analysts’ expectations of $45.03 million. Nordic American Tanker had a negative return on equity of 5.14% and a negative net margin of 20.86%.

Several research firms have issued reports on NAT. ValuEngine cut Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Zacks Investment Research raised Nordic American Tanker from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Thursday, November 28th. B. Riley set a $5.00 price target on Nordic American Tanker and gave the company a “buy” rating in a research note on Friday, August 16th. BTIG Research raised Nordic American Tanker from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Monday, October 7th. Finally, TheStreet upgraded Nordic American Tanker from a “d+” rating to a “c-” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.50.

NAT traded up $0.23 during trading on Friday, reaching $3.70. The company’s stock had a trading volume of 145,574 shares, compared to its average volume of 1,785,557. Nordic American Tanker has a 52-week low of $1.66 and a 52-week high of $4.47. The company’s fifty day moving average price is $3.66 and its 200-day moving average price is $2.56. The company has a market capitalization of $492.64 million, a price-to-earnings ratio of -6.07 and a beta of 0.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.83 and a current ratio of 2.18.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Thursday, December 5th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Wednesday, December 4th. Nordic American Tanker’s dividend payout ratio (DPR) is -6.56%.

A number of hedge funds have recently added to or reduced their stakes in NAT. Nisa Investment Advisors LLC acquired a new position in Nordic American Tanker during the second quarter worth about $113,000. AE Wealth Management LLC grew its holdings in shares of Nordic American Tanker by 18.6% in the 2nd quarter. AE Wealth Management LLC now owns 30,019 shares of the shipping company’s stock worth $70,000 after acquiring an additional 4,703 shares during the period. SG Americas Securities LLC increased its stake in Nordic American Tanker by 37.8% in the 2nd quarter. SG Americas Securities LLC now owns 76,516 shares of the shipping company’s stock valued at $179,000 after purchasing an additional 20,988 shares in the last quarter. Aperio Group LLC increased its stake in Nordic American Tanker by 186.9% in the 2nd quarter. Aperio Group LLC now owns 65,728 shares of the shipping company’s stock valued at $154,000 after purchasing an additional 42,817 shares in the last quarter. Finally, Coastal Investment Advisors Inc. acquired a new position in Nordic American Tanker during the second quarter worth $235,000. 24.41% of the stock is currently owned by hedge funds and other institutional investors.

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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