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 MarketBeat.com, 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.

Further Reading

Get a free copy of the Zacks research report on Nordic American Tankers (NAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Nordic American Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers and related companies with MarketBeat.com's FREE daily email newsletter.