Zacks: Analysts Expect Nordic American Tankers Limited (NYSE:NAT) to Post -$0.12 Earnings Per Share

Wall Street brokerages expect Nordic American Tankers Limited (NYSE:NATGet Rating) to post earnings of ($0.12) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Nordic American Tankers’ earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at ($0.11). Nordic American Tankers reported earnings of ($0.16) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The firm is scheduled to report its next earnings results on Monday, January 1st.

Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Nordic American Tankers.

Nordic American Tankers (NYSE:NATGet Rating) last released its quarterly earnings data on Friday, February 25th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.12). Nordic American Tankers had a negative return on equity of 19.85% and a negative net margin of 176.94%. The business had revenue of $22.63 million for the quarter, compared to the consensus estimate of $26.78 million. During the same quarter in the previous year, the company posted ($0.19) EPS.

Several equities analysts have recently weighed in on NAT shares. Zacks Investment Research downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, April 21st. Jefferies Financial Group started coverage on Nordic American Tankers in a research report on Wednesday. They set a “hold” rating and a $2.50 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from, Nordic American Tankers has a consensus rating of “Hold” and a consensus price target of $3.42.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Nordic American Tankers by 2.8% during the 4th quarter. BlackRock Inc. now owns 9,530,449 shares of the shipping company’s stock valued at $16,106,000 after acquiring an additional 260,581 shares during the period. Millennium Management LLC lifted its holdings in shares of Nordic American Tankers by 229.1% in the 4th quarter. Millennium Management LLC now owns 6,024,174 shares of the shipping company’s stock worth $10,181,000 after buying an additional 4,193,738 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Nordic American Tankers in the 4th quarter worth $8,510,000. Morgan Stanley lifted its holdings in shares of Nordic American Tankers by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,950,604 shares of the shipping company’s stock worth $12,673,000 after buying an additional 128,646 shares during the period. Finally, State Street Corp lifted its holdings in shares of Nordic American Tankers by 4.1% in the 4th quarter. State Street Corp now owns 2,711,941 shares of the shipping company’s stock worth $4,583,000 after buying an additional 107,761 shares during the period. Institutional investors own 28.96% of the company’s stock.

NYSE NAT opened at $2.88 on Thursday. The company has a market cap of $557.16 million, a P/E ratio of -3.95 and a beta of 0.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.28 and a current ratio of 1.59. The business’s 50 day moving average price is $2.22 and its 200-day moving average price is $2.02. Nordic American Tankers has a fifty-two week low of $1.40 and a fifty-two week high of $3.81.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Investors of record on Friday, March 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Thursday, March 10th. Nordic American Tankers’s payout ratio is currently -5.48%.

Nordic American Tankers Company Profile (Get Rating)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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