Zacks: Analysts Anticipate Nordic American Tankers Limited (NYSE:NAT) Will Post Quarterly Sales of $32.60 Million

Equities analysts expect Nordic American Tankers Limited (NYSE:NATGet Rating) to report sales of $32.60 million for the current quarter, Zacks reports. Three analysts have issued estimates for Nordic American Tankers’ earnings, with the lowest sales estimate coming in at $29.25 million and the highest estimate coming in at $37.64 million. Nordic American Tankers reported sales of $16.75 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 94.6%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Nordic American Tankers will report full-year sales of $132.96 million for the current fiscal year, with estimates ranging from $128.20 million to $137.61 million. For the next year, analysts forecast that the business will report sales of $174.55 million, with estimates ranging from $164.63 million to $185.22 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Nordic American Tankers.

Nordic American Tankers (NYSE:NATGet Rating) last issued its quarterly earnings results on Monday, June 6th. The shipping company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Nordic American Tankers had a negative net margin of 189.05% and a negative return on equity of 21.52%. During the same quarter in the prior year, the firm earned ($0.16) EPS.

Several equities analysts have commented on the company. Jefferies Financial Group began coverage on Nordic American Tankers in a research report on Wednesday, April 27th. They set a “hold” rating and a $2.50 price objective for the company. Zacks Investment Research upgraded Nordic American Tankers from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3.19.

Shares of NAT stock opened at $2.02 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.52 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $390.79 million, a price-to-earnings ratio of -2.85 and a beta of 0.07. The stock has a fifty day moving average of $2.48 and a 200 day moving average of $2.04. Nordic American Tankers has a 52 week low of $1.40 and a 52 week high of $3.64.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Tuesday, June 14th will be paid a dividend of $0.02 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Monday, June 13th. Nordic American Tankers’s dividend payout ratio is -5.63%.

A number of institutional investors have recently bought and sold shares of NAT. Morgan Stanley grew its stake in shares of Nordic American Tankers by 0.7% in the second quarter. Morgan Stanley now owns 4,821,958 shares of the shipping company’s stock valued at $15,817,000 after buying an additional 34,845 shares in the last quarter. Barclays PLC raised its stake in Nordic American Tankers by 197.3% during the 3rd quarter. Barclays PLC now owns 62,453 shares of the shipping company’s stock valued at $159,000 after acquiring an additional 41,448 shares during the last quarter. Citigroup Inc. raised its stake in Nordic American Tankers by 126.4% during the 3rd quarter. Citigroup Inc. now owns 17,382 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 9,704 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Nordic American Tankers by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,509,744 shares of the shipping company’s stock worth $3,864,000 after buying an additional 64,076 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Nordic American Tankers during the 3rd quarter worth approximately $106,000. 28.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Articles

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

Want More Great Investing Ideas?

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.