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

Posted by on Jun 10th, 2022

Equities analysts expect Nordic American Tankers Limited (NYSE:NAT – Get 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:NAT – Get 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.

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