Wall Street analysts expect that Nordic American Tanker Ltd (NYSE:NAT) will report sales of $48.97 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Nordic American Tanker’s earnings. The highest sales estimate is $53.70 million and the lowest is $41.70 million. Nordic American Tanker posted sales of $36.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 33.4%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, February 19th.
According to Zacks, analysts expect that Nordic American Tanker will report full year sales of $125.50 million for the current year, with estimates ranging from $115.68 million to $133.50 million. For the next year, analysts forecast that the firm will post sales of $181.00 million, with estimates ranging from $145.29 million to $211.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Monday, November 12th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The business had revenue of $23.19 million during the quarter, compared to the consensus estimate of $26.40 million. Nordic American Tanker had a negative net margin of 90.79% and a negative return on equity of 12.76%.
A number of research analysts recently issued reports on NAT shares. Zacks Investment Research upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating and set a $3.00 price objective for the company in a report on Tuesday, October 30th. B. Riley started coverage on shares of Nordic American Tanker in a report on Friday, November 9th. They issued a “buy” rating and a $4.25 price objective for the company. Seaport Global Securities set a $3.00 price objective on shares of Nordic American Tanker and gave the company a “hold” rating in a report on Monday, November 12th. Finally, ValuEngine lowered shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Nordic American Tanker has an average rating of “Hold” and an average price target of $2.50.
A number of institutional investors have recently added to or reduced their stakes in the business. Good Life Advisors LLC bought a new stake in Nordic American Tanker during the 4th quarter valued at approximately $62,000. Virtu Financial LLC increased its stake in Nordic American Tanker by 28.7% in the 4th quarter. Virtu Financial LLC now owns 48,845 shares of the shipping company’s stock worth $98,000 after acquiring an additional 10,878 shares during the last quarter. Raymond James & Associates increased its stake in Nordic American Tanker by 89.3% in the 2nd quarter. Raymond James & Associates now owns 52,165 shares of the shipping company’s stock worth $140,000 after acquiring an additional 24,603 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Nordic American Tanker in the 2nd quarter worth approximately $142,000. Finally, California Public Employees Retirement System increased its stake in Nordic American Tanker by 39.7% in the 2nd quarter. California Public Employees Retirement System now owns 96,521 shares of the shipping company’s stock worth $259,000 after acquiring an additional 27,421 shares during the last quarter. Hedge funds and other institutional investors own 24.69% of the company’s stock.
NYSE NAT traded up $0.03 during trading hours on Friday, reaching $2.13. The company’s stock had a trading volume of 1,247,600 shares, compared to its average volume of 1,294,340. The firm has a market cap of $298.14 million, a PE ratio of -3.00 and a beta of 0.51. Nordic American Tanker has a 52 week low of $1.81 and a 52 week high of $3.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.29 and a quick ratio of 3.50.
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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