Equities analysts forecast that Nordic American Tanker Ltd (NYSE:NAT) will post ($0.11) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Nordic American Tanker’s earnings. The lowest EPS estimate is ($0.26) and the highest is $0.03. Nordic American Tanker reported earnings per share of ($0.02) during the same quarter last year, which would indicate a negative year over year growth rate of 450%. The company is scheduled to announce its next earnings report on Monday, February 5th.
Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Nordic American Tanker.
A number of brokerages have commented on NAT. Zacks Investment Research lowered Nordic American Tanker from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 10th. Maxim Group restated a “sell” rating and issued a $3.00 price target (down from $4.00) on shares of Nordic American Tanker in a research report on Monday, October 23rd. Morgan Stanley reduced their price target on Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 8th. Jefferies Group upgraded Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price target on the stock in a research report on Thursday, December 14th. Finally, Clarkson Capital upgraded Nordic American Tanker from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Five 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 company. Nordic American Tanker currently has a consensus rating of “Hold” and an average price target of $4.86.
Nordic American Tanker (NAT) opened at $2.63 on Thursday. The company has a market capitalization of $373.32, a price-to-earnings ratio of -2.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71. Nordic American Tanker has a 12-month low of $2.45 and a 12-month high of $9.39.
Several large investors have recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new position in shares of Nordic American Tanker in the 3rd quarter worth $241,000. Schwab Charles Investment Management Inc. boosted its position in shares of Nordic American Tanker by 25.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 545,650 shares of the shipping company’s stock worth $2,914,000 after purchasing an additional 110,365 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Nordic American Tanker by 17.0% in the 3rd quarter. Wells Fargo & Company MN now owns 569,292 shares of the shipping company’s stock worth $3,040,000 after purchasing an additional 82,687 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Nordic American Tanker in the 3rd quarter worth $158,000. Finally, Advisor Group Inc. boosted its position in shares of Nordic American Tanker by 13.4% in the 3rd quarter. Advisor Group Inc. now owns 145,885 shares of the shipping company’s stock worth $778,000 after purchasing an additional 17,263 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.
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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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