Equities analysts forecast that Nordic American Tanker Ltd (NYSE:NAT) will announce sales of $33.65 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Nordic American Tanker’s earnings, with estimates ranging from $31.00 million to $38.19 million. Nordic American Tanker posted sales of $27.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 24.6%. The company is expected to report its next earnings results before the market opens on Friday, August 16th.
On average, analysts expect that Nordic American Tanker will report full year sales of $175.82 million for the current financial year, with estimates ranging from $156.60 million to $187.83 million. For the next year, analysts expect that the firm will post sales of $213.70 million, with estimates ranging from $194.08 million to $238.41 million. Zacks’ sales averages 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 Tuesday, May 14th. The shipping company reported $0.04 earnings per share for the quarter. Nordic American Tanker had a negative net margin of 47.28% and a negative return on equity of 7.43%. The business had revenue of $53.63 million for the quarter, compared to analysts’ expectations of $49.84 million.
NAT has been the subject of several recent research reports. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. ValuEngine raised Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $2.63.
NYSE:NAT traded down $0.08 on Friday, hitting $1.75. 1,563,135 shares of the company’s stock traded hands, compared to its average volume of 1,175,716. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.22 and a current ratio of 2.79. Nordic American Tanker has a 1 year low of $1.75 and a 1 year high of $3.47. The firm’s 50-day simple moving average is $2.12. The firm has a market capitalization of $256.97 million, a P/E ratio of -2.87 and a beta of 0.62.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Nordic American Tanker by 2.6% in the fourth quarter. BlackRock Inc. now owns 7,422,601 shares of the shipping company’s stock worth $14,845,000 after acquiring an additional 190,112 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Nordic American Tanker by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 426,634 shares of the shipping company’s stock worth $854,000 after purchasing an additional 5,570 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Nordic American Tanker by 20.1% during the fourth quarter. Raymond James & Associates now owns 179,989 shares of the shipping company’s stock worth $360,000 after purchasing an additional 30,076 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Nordic American Tanker by 1.9% during the fourth quarter. Northern Trust Corp now owns 1,320,810 shares of the shipping company’s stock worth $2,642,000 after purchasing an additional 25,231 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Nordic American Tanker by 18.6% during the fourth quarter. Geode Capital Management LLC now owns 490,347 shares of the shipping company’s stock worth $980,000 after purchasing an additional 76,914 shares during the last quarter. Institutional investors and hedge funds own 22.90% of the company’s stock.
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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