Brokerages forecast that Nordic American Tanker Ltd (NYSE:NAT) will announce $44.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Nordic American Tanker’s earnings, with estimates ranging from $42.01 million to $46.03 million. Nordic American Tanker posted sales of $23.19 million in the same quarter last year, which would indicate a positive year over year growth rate of 89.8%. The business is scheduled to announce its next quarterly earnings results on Friday, August 16th.
On average, analysts expect that Nordic American Tanker will report full-year sales of $175.82 million for the current fiscal year, with estimates ranging from $156.60 million to $187.83 million. For the next financial year, analysts forecast 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 research firms that that provide coverage for Nordic American Tanker.
Nordic American Tanker (NYSE:NAT) last issued its earnings results on Friday, August 16th. The shipping company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.01. The business had revenue of $30.65 million for the quarter, compared to the consensus estimate of $33.65 million. Nordic American Tanker had a negative net margin of 47.28% and a negative return on equity of 7.43%.
Several equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $2.63.
Several institutional investors and hedge funds have recently made changes to their positions in NAT. Renaissance Technologies LLC lifted its position in shares of Nordic American Tanker by 146.9% in the 2nd quarter. Renaissance Technologies LLC now owns 997,500 shares of the shipping company’s stock worth $2,334,000 after purchasing an additional 593,500 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Nordic American Tanker by 306.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 768,521 shares of the shipping company’s stock worth $1,722,000 after purchasing an additional 579,347 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Nordic American Tanker by 396.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 304,050 shares of the shipping company’s stock worth $711,000 after purchasing an additional 242,759 shares during the period. BlackRock Inc. lifted its position in shares of Nordic American Tanker by 2.6% in the 4th quarter. BlackRock Inc. now owns 7,422,601 shares of the shipping company’s stock worth $14,845,000 after purchasing an additional 190,112 shares during the period. Finally, Morgan Stanley lifted its position in Nordic American Tanker by 2.3% during the second quarter. Morgan Stanley now owns 5,318,977 shares of the shipping company’s stock valued at $12,447,000 after acquiring an additional 121,784 shares during the last quarter. 22.90% of the stock is owned by hedge funds and other institutional investors.
Shares of NAT traded up $0.01 during mid-day trading on Friday, hitting $1.76. The company’s stock had a trading volume of 3,254,900 shares, compared to its average volume of 1,058,802. The company’s 50-day moving average is $2.11 and its 200-day moving average is $2.13. Nordic American Tanker has a 52-week low of $1.71 and a 52-week high of $3.47. The firm has a market capitalization of $259.80 million, a price-to-earnings ratio of -2.89 and a beta of 0.62. The company has a current ratio of 2.79, a quick ratio of 2.22 and a debt-to-equity ratio of 0.66.
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.
See Also: Return on Equity (ROE)
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