$21.84 Million in Sales Expected for Nordic American Tankers Limited (NYSE:NAT) This Quarter

Equities research analysts predict that Nordic American Tankers Limited (NYSE:NATGet Rating) will post $21.84 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Nordic American Tankers’ earnings, with estimates ranging from $20.30 million to $23.37 million. Nordic American Tankers posted sales of $18.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.1%. The business is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Nordic American Tankers will report full-year sales of $143.75 million for the current financial year, with estimates ranging from $142.95 million to $144.21 million. For the next fiscal year, analysts expect that the business will post sales of $188.16 million, with estimates ranging from $185.22 million to $191.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Nordic American Tankers.

Nordic American Tankers (NYSE:NATGet Rating) last posted its earnings results on Friday, February 25th. The shipping company reported ($0.12) EPS for the quarter, meeting the 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 firm had revenue of $22.63 million during the quarter, compared to the consensus estimate of $26.78 million. During the same period last year, the company earned ($0.19) earnings per share.

Several equities analysts have issued reports on NAT shares. Zacks Investment Research raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group started coverage on Nordic American Tankers in a research note on Wednesday. They issued a “hold” rating and a $2.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Nordic American Tankers presently has a consensus rating of “Hold” and a consensus target price of $3.42.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Nordic American Tankers by 2.8% during the fourth quarter. BlackRock Inc. now owns 9,530,449 shares of the shipping company’s stock worth $16,106,000 after buying an additional 260,581 shares in the last quarter. Millennium Management LLC grew its holdings in Nordic American Tankers by 229.1% during the fourth 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Nordic American Tankers during the fourth quarter worth $8,510,000. Morgan Stanley grew its holdings in Nordic American Tankers by 2.7% during the third 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 in the last quarter. Finally, State Street Corp grew its holdings in Nordic American Tankers by 4.1% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 28.96% of the company’s stock.

Nordic American Tankers stock opened at $2.56 on Friday. The stock’s 50 day moving average is $2.26 and its 200 day moving average is $2.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.59 and a quick ratio of 1.28. The firm has a market cap of $495.26 million, a P/E ratio of -3.51 and a beta of 0.21. Nordic American Tankers has a one year low of $1.40 and a one year high of $3.81.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Stockholders of record on Friday, March 11th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, March 10th. This represents a $0.04 annualized dividend and a dividend yield of 1.56%. Nordic American Tankers’s dividend payout ratio is -5.48%.

About Nordic American Tankers (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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