Seaport Global Securities Analysts Boost Earnings Estimates for Nordic American Tanker Ltd (NYSE:NAT)

Nordic American Tanker Ltd (NYSE:NAT) – Research analysts at Seaport Global Securities boosted their FY2017 earnings estimates for Nordic American Tanker in a note issued to investors on Thursday, according to Zacks Investment Research. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will post earnings of ($0.63) per share for the year, up from their prior estimate of ($0.64). Seaport Global Securities has a “Hold” rating and a $3.00 price objective on the stock. Seaport Global Securities also issued estimates for Nordic American Tanker’s Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.03 EPS and FY2018 earnings at $0.12 EPS.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Nordic American Tanker from a “hold” rating to a “sell” rating in a research note on Tuesday. Clarkson Capital upgraded Nordic American Tanker from a “neutral” rating to a “buy” rating in a research note on Friday, January 5th. Maxim Group reiterated a “sell” rating and issued a $3.00 target price (down from $4.00) on shares of Nordic American Tanker in a research note on Monday, October 23rd. Morgan Stanley dropped their target price on Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Finally, Jefferies Group upgraded Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 target price for the company in a research note on Thursday, December 14th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Nordic American Tanker has an average rating of “Hold” and an average target price of $4.86.

Nordic American Tanker (NAT) traded up $0.01 during trading on Monday, reaching $2.64. The company had a trading volume of 1,552,698 shares, compared to its average volume of 2,910,000. The firm has a market capitalization of $374.74, a price-to-earnings ratio of -2.90 and a beta of 0.89. Nordic American Tanker has a 52-week low of $2.45 and a 52-week high of $9.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71.

A number of hedge funds have recently bought and sold shares of NAT. Teachers Advisors LLC grew its position in Nordic American Tanker by 1.8% during the first quarter. Teachers Advisors LLC now owns 167,065 shares of the shipping company’s stock valued at $1,367,000 after acquiring an additional 2,945 shares during the period. Geode Capital Management LLC boosted its position in shares of Nordic American Tanker by 12.5% in the first quarter. Geode Capital Management LLC now owns 164,637 shares of the shipping company’s stock worth $1,346,000 after buying an additional 18,321 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Nordic American Tanker by 4.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 296,711 shares of the shipping company’s stock worth $2,428,000 after buying an additional 13,350 shares during the period. Aperio Group LLC boosted its position in shares of Nordic American Tanker by 55.2% in the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after buying an additional 7,994 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Nordic American Tanker by 30.7% in the second quarter. IFP Advisors Inc now owns 30,431 shares of the shipping company’s stock worth $193,000 after buying an additional 7,145 shares during the period. 16.93% of the stock is owned by hedge funds and other institutional investors.

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About Nordic American Tanker

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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